Envestnet Asset Management Inc. Has $11.35 Million Stock Position in On Holding AG $ONON

Envestnet Asset Management Inc. lowered its position in shares of On Holding AG (NYSE:ONON) by 36.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,973 shares of the company’s stock after selling 150,625 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ON were worth $11,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Asset Management One Co. Ltd. raised its stake in ON by 1.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 24,939 shares of the company’s stock valued at $1,298,000 after purchasing an additional 243 shares during the period. Lido Advisors LLC grew its holdings in shares of ON by 1.2% during the second quarter. Lido Advisors LLC now owns 23,754 shares of the company’s stock valued at $1,236,000 after buying an additional 285 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in ON by 4.3% during the third quarter. Parsons Capital Management Inc. RI now owns 7,238 shares of the company’s stock valued at $307,000 after buying an additional 300 shares during the period. Sterling Investment Counsel LLC raised its position in ON by 6.5% during the third quarter. Sterling Investment Counsel LLC now owns 6,125 shares of the company’s stock valued at $259,000 after buying an additional 375 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in ON by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,859 shares of the company’s stock worth $201,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

NYSE:ONON opened at $46.64 on Wednesday. The firm has a market capitalization of $29.29 billion, a PE ratio of 60.57, a PEG ratio of 1.36 and a beta of 2.15. On Holding AG has a 1 year low of $34.38 and a 1 year high of $61.29. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $46.58 and its 200 day simple moving average is $44.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on ON from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $31.00 price objective on shares of ON in a research report on Wednesday, November 12th. KeyCorp cut their target price on shares of ON from $68.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of ON in a research note on Monday, January 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.86.

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.