Sigma Planning Corp Trims Stock Position in On Holding AG (NYSE:ONON)

Sigma Planning Corp lessened its stake in On Holding AG (NYSE:ONON) by 84.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,407 shares of the company’s stock after selling 23,464 shares during the period. Sigma Planning Corp’s holdings in ON were worth $241,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in ON in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. increased its holdings 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. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 3rd quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new stake in ON in the 4th quarter valued at approximately $30,000. Finally, Legacy Bridge LLC acquired a new stake in ON in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup assumed coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. Stifel Nicolaus boosted their price target on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a research note on Wednesday, January 15th. Finally, Bank of America assumed coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target 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 stock. According to data from MarketBeat, ON currently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Price Performance

Shares of ONON opened at $48.45 on Friday. On Holding AG has a 1-year low of $27.37 and a 1-year high of $64.05. The stock has a market cap of $30.51 billion, a PE ratio of 112.69, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The firm has a fifty day moving average price of $55.75 and a 200 day moving average price of $52.19.

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.