Corient Private Wealth LLC Purchases 15,209 Shares of On Holding AG $ONON

Corient Private Wealth LLC boosted its position in On Holding AG (NYSE:ONON) by 83.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,486 shares of the company’s stock after acquiring an additional 15,209 shares during the period. Corient Private Wealth LLC’s holdings in ON were worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Washington Trust Advisors Inc. acquired a new position in ON during the 2nd quarter valued at about $29,000. Smartleaf Asset Management LLC raised its stake in shares of ON by 3,392.6% during the first quarter. Smartleaf Asset Management LLC now owns 943 shares of the company’s stock worth $42,000 after buying an additional 916 shares during the last quarter. Quarry LP acquired a new position in ON in the first quarter valued at approximately $60,000. Ramirez Asset Management Inc. boosted its stake in ON by 20.0% in the second quarter. Ramirez Asset Management Inc. now owns 1,200 shares of the company’s stock valued at $62,000 after acquiring an additional 200 shares during the last quarter. Finally, WD Rutherford LLC acquired a new stake in ON during the 2nd quarter worth $73,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of analyst reports. Singular Research raised ON to a “strong-buy” rating in a research note on Monday, November 17th. Truist Financial cut their target price on ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. BTIG Research restated a “buy” rating and set a $70.00 target price on shares of ON in a research report on Tuesday, November 4th. TD Cowen upped their price target on ON from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Guggenheim raised shares of ON to a “strong-buy” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.27.

ON Price Performance

Shares of ONON opened at $47.90 on Wednesday. The stock has a 50 day simple moving average of $42.86 and a 200 day simple moving average of $46.23. On Holding AG has a 52-week low of $34.38 and a 52-week high of $64.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The firm has a market capitalization of $30.08 billion, a PE ratio of 62.21, a P/E/G ratio of 2.85 and a beta of 2.16.

About ON

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.