On Holding AG (NYSE:ONON) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its stake in On Holding AG (NYSE:ONON) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 24,770 shares of the company’s stock after selling 261 shares during the quarter. Asset Management One Co. Ltd.’s holdings in ON were worth $1,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Private Trust Co. NA bought a new stake in shares of ON during the third quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON during the third quarter valued at approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of ON by 210.5% during 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. Finally, Legacy Bridge LLC bought a new stake in shares of ON during the fourth quarter valued at approximately $43,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 1.8 %

Shares of NYSE:ONON opened at $51.13 on Friday. The company’s fifty day moving average is $56.55 and its two-hundred day moving average is $51.84. On Holding AG has a 12-month low of $27.37 and a 12-month high of $64.05. The company has a market cap of $32.20 billion, a P/E ratio of 118.92, a price-to-earnings-growth ratio of 1.07 and a beta of 2.30.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ONON. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Wednesday, February 12th. TD Cowen upped their target price on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup started coverage on ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Bank of America started coverage on ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price for the company. Finally, KeyCorp upped their target price on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Company 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.