On Holding AG (NYSE:ONON) Stake Lowered by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. trimmed its position in shares of On Holding AG (NYSE:ONON) by 28.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,340 shares of the company’s stock after selling 2,910 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in ON were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in ON by 129.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,277 shares of the company’s stock valued at $179,000 after acquiring an additional 1,851 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of ON in the 4th quarter valued at $240,000. HighTower Advisors LLC boosted its holdings in ON by 12.4% in the fourth quarter. HighTower Advisors LLC now owns 76,640 shares of the company’s stock worth $4,198,000 after purchasing an additional 8,463 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in ON in the fourth quarter worth $5,477,000. Finally, Independent Advisor Alliance acquired a new position in ON during the fourth quarter worth $1,143,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their target price on ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday. UBS Group boosted their target price on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ON presently has a consensus rating of “Buy” and an average price target of $61.90.

ON Trading Up 3.5 %

ONON opened at $46.73 on Thursday. The stock has a market cap of $29.42 billion, a PE ratio of 108.68, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05. The stock’s 50 day simple moving average is $54.48 and its 200-day simple moving average is $52.66.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.