On Holding AG $ONON Shares Sold by Strs Ohio

Strs Ohio lowered its stake in shares of On Holding AG (NYSE:ONON) by 77.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,267 shares of the company’s stock after selling 18,173 shares during the quarter. Strs Ohio’s holdings in ON were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Winslow Capital Management LLC purchased a new position in shares of ON in the 2nd quarter valued at $248,113,000. Sands Capital Management LLC purchased a new stake in ON in the second quarter valued at $240,177,000. Norges Bank acquired a new position in ON in the second quarter valued at $138,641,000. Ameriprise Financial Inc. grew its holdings in shares of ON by 4,564.3% during the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock worth $119,752,000 after purchasing an additional 2,242,480 shares during the last quarter. Finally, State Street Corp increased its position in shares of ON by 765.4% during the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock worth $115,500,000 after purchasing an additional 1,962,586 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Up 1.5%

Shares of NYSE ONON opened at $45.92 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $28.83 billion, a PE ratio of 59.63, a P/E/G ratio of 1.36 and a beta of 2.15. The firm has a fifty day moving average of $46.73 and a 200-day moving average of $44.87. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29.

Analysts Set New Price Targets

Several research analysts have commented on the company. Williams Trading lowered ON from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $47.00 in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Thursday, January 22nd. TD Cowen upped their price objective on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Singular Research upgraded shares of ON to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Barclays lowered their target price on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.86.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.