On Holding AG (NYSE:ONON) Shares Sold by GAM Holding AG

GAM Holding AG decreased its stake in shares of On Holding AG (NYSE:ONON) by 34.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,300 shares of the company’s stock after selling 96,100 shares during the quarter. GAM Holding AG’s holdings in ON were worth $10,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA acquired a new position in shares of ON during the third quarter worth $26,000. Blue Trust Inc. raised its position in ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in ON during the 3rd quarter worth approximately $29,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of ON during the fourth quarter worth $30,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Down 0.8 %

ONON opened at $51.94 on Tuesday. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The firm has a market capitalization of $32.70 billion, a P/E ratio of 120.79, a P/E/G ratio of 1.20 and a beta of 2.30. The firm’s 50 day moving average is $56.83 and its 200-day moving average is $51.73.

Analysts Set New Price Targets

A number of brokerages recently commented on ONON. Barclays raised their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Morgan Stanley increased their price target on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. Finally, Citigroup started coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.