Vontobel Holding Ltd. Buys 12,131 Shares of On Holding AG $ONON

Vontobel Holding Ltd. raised its stake in shares of On Holding AG (NYSE:ONON) by 34.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,607 shares of the company’s stock after purchasing an additional 12,131 shares during the quarter. Vontobel Holding Ltd.’s holdings in ON were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ONON. Washington Trust Advisors Inc. purchased a new stake in shares of ON during the 2nd quarter valued at $29,000. Smartleaf Asset Management LLC grew its position in ON by 3,392.6% in the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after acquiring an additional 916 shares in the last quarter. GAMMA Investing LLC grew its position in ON by 5,888.9% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock worth $46,000 after acquiring an additional 1,060 shares in the last quarter. Quarry LP bought a new position in ON in the first quarter valued at $60,000. Finally, Ramirez Asset Management Inc. raised its position in ON by 20.0% during the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ONON. The Goldman Sachs Group lifted their price target on ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d+)” rating on shares of ON in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $31.00 target price on shares of ON in a research note on Wednesday, November 12th. Barclays decreased their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.27.

ON Price Performance

ONON opened at $46.83 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. The stock’s 50 day simple moving average is $43.14 and its 200 day simple moving average is $46.17. The firm has a market cap of $29.40 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 2.75 and a beta of 2.16.

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.