Great Point Wealth Advisors LLC Buys Shares of 37,946 On Holding AG $ONON

Great Point Wealth Advisors LLC purchased a new stake in On Holding AG (NYSE:ONON) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 37,946 shares of the company’s stock, valued at approximately $1,607,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Winslow Capital Management LLC acquired a new position in ON in the second quarter valued at about $248,113,000. Sands Capital Management LLC acquired a new position in shares of ON in the 2nd quarter worth approximately $240,177,000. Bamco Inc. NY boosted its position in shares of ON by 3.3% during the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock worth $215,486,000 after purchasing an additional 132,756 shares during the period. American Century Companies Inc. increased its holdings in ON by 29.4% in the 2nd quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock valued at $192,198,000 after purchasing an additional 839,754 shares during the last quarter. Finally, Norges Bank purchased a new stake in ON in the second quarter valued at approximately $138,641,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

ONON stock opened at $45.13 on Friday. The business’s 50-day moving average is $45.65 and its two-hundred day moving average is $45.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The firm has a market capitalization of $28.34 billion, a P/E ratio of 58.61, a P/E/G ratio of 1.38 and a beta of 2.15. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of ON in a research note on Monday, January 5th. Guggenheim raised ON to a “strong-buy” rating in a research report on Wednesday, December 10th. Needham & Company LLC cut their price target on shares of ON from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 price target on shares of ON in a research report on Wednesday. Finally, Bank of America raised their price objective on shares of ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.59.

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.