On Holding AG (NYSE:ONON) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in On Holding AG (NYSE:ONON) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,196 shares of the company’s stock after selling 9,393 shares during the period. Ameriprise Financial Inc.’s holdings in ON were worth $6,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in shares of ON during the 4th quarter worth about $30,000. Legacy Bridge LLC acquired a new stake in shares of ON during the 4th quarter worth about $43,000. Bernard Wealth Management Corp. acquired a new stake in shares of ON during the 4th quarter worth about $44,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON during the 4th quarter worth about $53,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of ON during the 4th quarter worth about $65,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on ONON. Needham & Company LLC boosted their target price on shares of ON from $55.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Robert W. Baird boosted their target price on shares of ON from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Morgan Stanley lowered their target price on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Evercore ISI increased their target price on ON from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 14th. Finally, Cowen reaffirmed a “buy” rating on shares of ON in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ON currently has an average rating of “Buy” and a consensus price target of $62.45.

ON Stock Down 0.7%

ONON opened at $58.74 on Friday. The firm has a market capitalization of $36.99 billion, a P/E ratio of 136.61, a P/E/G ratio of 1.02 and a beta of 2.30. The firm’s 50 day moving average is $47.16 and its 200-day moving average is $52.03. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05.

ON Profile

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