On Holding AG $ONON Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in On Holding AG (NYSE:ONON) by 45.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,211,586 shares of the company’s stock after buying an additional 378,859 shares during the period. Bessemer Group Inc.’s holdings in ON were worth $51,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bison Wealth LLC grew its position in shares of ON by 35.7% in the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after acquiring an additional 2,442 shares in the last quarter. Truist Financial Corp lifted its stake in ON by 206.1% during the second quarter. Truist Financial Corp now owns 27,049 shares of the company’s stock worth $1,408,000 after purchasing an additional 18,211 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in ON in the second quarter worth $152,000. Callan Family Office LLC acquired a new position in ON in the second quarter worth $233,000. Finally, IFP Advisors Inc raised its holdings in shares of ON by 6.6% during the second quarter. IFP Advisors Inc now owns 21,659 shares of the company’s stock worth $1,127,000 after purchasing an additional 1,342 shares during the period. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ONON. Citigroup lowered shares of ON from a “buy” rating to a “mixed” rating in a report on Tuesday, October 28th. Raymond James Financial cut their target price on shares of ON from $66.00 to $55.00 and set an “outperform” rating on the stock in a report on Tuesday, October 21st. Jefferies Financial Group reaffirmed an “underperform” rating and set a $31.00 target price on shares of ON in a report on Wednesday, November 12th. Morgan Stanley raised their price target on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Stifel Nicolaus set a $60.00 price objective on ON in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.86.

ON Stock Performance

ONON opened at $42.90 on Friday. 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 business’s 50 day moving average is $46.78 and its 200-day moving average is $44.78. The stock has a market cap of $26.94 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 1.32 and a beta of 2.15. On Holding AG has a twelve month low of $34.38 and a twelve month high of $61.29.

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.