Azzad Asset Management Inc. ADV Sells 34,866 Shares of On Holding AG (NYSE:ONON)

Azzad Asset Management Inc. ADV reduced its holdings in shares of On Holding AG (NYSE:ONON) by 23.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,527 shares of the company’s stock after selling 34,866 shares during the period. Azzad Asset Management Inc. ADV’s holdings in ON were worth $4,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keystone Investors PTE Ltd. boosted its stake in shares of ON by 0.8% during the fourth quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock valued at $1,639,000 after purchasing an additional 228 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of ON by 2.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 9,413 shares of the company’s stock valued at $516,000 after purchasing an additional 259 shares during the period. Sage Capital Advisors llc boosted its stake in shares of ON by 0.3% during the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock valued at $4,406,000 after purchasing an additional 269 shares during the period. CreativeOne Wealth LLC boosted its stake in shares of ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock valued at $743,000 after purchasing an additional 323 shares during the period. Finally, Atria Investments Inc boosted its stake in shares of ON by 6.6% during the fourth quarter. Atria Investments Inc now owns 5,515 shares of the company’s stock valued at $302,000 after purchasing an additional 341 shares during the period. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on ONON shares. Morgan Stanley dropped their price target on ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. UBS Group set a $75.00 price target on ON in a research note on Wednesday, May 14th. KeyCorp raised their price target on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Cowen reaffirmed a “buy” rating on shares of ON in a research note on Wednesday, May 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of ON in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ON currently has an average rating of “Buy” and a consensus target price of $63.05.

ON Stock Performance

NYSE ONON opened at $52.35 on Friday. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The stock has a 50-day moving average of $51.51 and a 200 day moving average of $52.53. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 121.74, a PEG ratio of 1.02 and a beta of 2.35.

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