Y.D. More Investments Ltd Boosts Holdings in On Holding AG $ONON

Y.D. More Investments Ltd raised its position in shares of On Holding AG (NYSE:ONON) by 20.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,550 shares of the company’s stock after purchasing an additional 10,650 shares during the quarter. Y.D. More Investments Ltd’s holdings in ON were worth $2,649,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of research analyst reports. Bank of America lifted their price target on shares of ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of ON in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their price objective on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Truist Financial reduced their target price on shares of ON from $69.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Morgan Stanley lifted their price target on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.86.

ON Price Performance

Shares of NYSE ONON traded up $2.17 during midday trading on Friday, reaching $50.19. The stock had a trading volume of 149,751 shares, compared to its average volume of 4,738,811. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 63.11, a price-to-earnings-growth ratio of 1.42 and a beta of 2.15. On Holding AG has a 12-month low of $34.38 and a 12-month high of $61.29. The stock has a 50-day moving average of $46.52 and a 200-day moving average of $44.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55.

ON Profile

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.