On Holding AG (NYSE:ONON) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of On Holding AG (NYSE:ONON) by 12.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,032 shares of the company’s stock after selling 4,812 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in ON were worth $1,451,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of ON during the fourth quarter worth approximately $164,574,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ON during the fourth quarter worth approximately $78,799,000. Axiom Investors LLC DE purchased a new position in ON in the fourth quarter valued at approximately $39,320,000. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter valued at approximately $39,119,000. Finally, Raymond James Financial Inc. purchased a new position in ON in the fourth quarter valued at approximately $28,575,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

ON stock opened at $54.25 on Friday. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80. The business has a fifty day moving average of $54.21 and a two-hundred day moving average of $52.02. The company has a market cap of $34.16 billion, a P/E ratio of 77.49, a price-to-earnings-growth ratio of 3.04 and a beta of 2.25.

Analysts Set New Price Targets

Several equities analysts have commented on ONON shares. Barclays set a $68.00 price target on shares of ON in a research note on Wednesday, May 14th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. Morgan Stanley dropped their price target on shares of ON from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Evercore ISI increased their price target on shares of ON from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Finally, UBS Group set a $75.00 price target on shares of ON in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ON currently has a consensus rating of “Buy” and a consensus price target of $63.85.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.