On Holding AG $ONON Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC reduced its position in shares of On Holding AG (NYSE:ONON) by 24.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 482,648 shares of the company’s stock after selling 158,521 shares during the period. Zevenbergen Capital Investments LLC owned about 0.08% of ON worth $22,433,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ONON. United Financial Planning Group LLC acquired a new stake in shares of ON during the third quarter worth $42,000. Horizon Investments LLC acquired a new stake in ON during the third quarter worth about $44,000. GAMMA Investing LLC boosted its stake in ON by 5,888.9% in the third quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after acquiring an additional 1,060 shares during the period. Noble Wealth Management PBC raised its position in shares of ON by 350.0% during the 4th quarter. Noble Wealth Management PBC now owns 1,350 shares of the company’s stock worth $63,000 after purchasing an additional 1,050 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in ON during the 3rd quarter worth $66,000. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

ONON opened at $31.86 on Tuesday. The business has a 50 day moving average price of $42.96 and a two-hundred day moving average price of $43.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 44.25, a price-to-earnings-growth ratio of 0.65 and a beta of 2.14. On Holding AG has a 1-year low of $31.41 and a 1-year high of $61.29.

Insider Buying and Selling at ON

In related news, CEO Martin Hoffmann sold 4,150 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.79, for a total transaction of $165,128.50. Following the completion of the transaction, the chief executive officer owned 1,357,020 shares of the company’s stock, valued at $53,995,825.80. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONON. Evercore set a $58.00 price objective on shares of ON and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Williams Trading cut ON from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $47.00 in a research report on Thursday, January 8th. Guggenheim reduced their price target on ON from $59.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Truist Financial lowered their price target on ON from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, KeyCorp restated an “overweight” rating on shares of ON in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

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.