125,024 Shares in On Holding AG $ONON Bought by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. purchased a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, HoldingsChannel reports. The firm purchased 125,024 shares of the company’s stock, valued at approximately $5,295,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Winslow Capital Management LLC bought a new stake in shares of ON in the 2nd quarter valued at about $248,113,000. Sands Capital Management LLC bought a new stake in ON in the second quarter valued at approximately $240,177,000. Norges Bank bought a new position in shares of ON in the second quarter worth approximately $138,641,000. Ameriprise Financial Inc. raised its holdings in ON by 4,564.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after buying an additional 2,242,480 shares during the last quarter. Finally, State Street Corp boosted its position 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 buying an additional 1,962,586 shares during the period. 36.39% of the stock is owned by institutional investors.

ON Price Performance

Shares of NYSE ONON opened at $46.50 on Friday. The company has a 50 day simple moving average of $46.41 and a two-hundred day simple moving average of $44.48. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $61.29. The company has a market capitalization of $29.20 billion, a price-to-earnings ratio of 60.39, a P/E/G ratio of 1.43 and a beta of 2.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of ON from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Bank of America raised their price target on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Guggenheim upgraded shares of ON to a “strong-buy” rating in a report on Wednesday, December 10th. Morgan Stanley boosted their price target on shares of ON from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $31.00 price objective on shares of ON in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.86.

ON Company 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.