Parallel Advisors LLC Has $57,000 Position in On Holding AG (NYSE:ONON)

Parallel Advisors LLC lifted its holdings in On Holding AG (NYSE:ONON) by 53.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,292 shares of the company’s stock after acquiring an additional 450 shares during the period. Parallel Advisors LLC’s holdings in ON were worth $57,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ONON. Apollon Wealth Management LLC grew its stake in ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after buying an additional 6,808 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in ON in the 4th quarter valued at approximately $30,000. BNP Paribas Financial Markets bought a new position in ON in the 4th quarter valued at approximately $39,119,000. Finally, Raymond James Financial Inc. bought a new position in ON in the 4th quarter valued at approximately $28,575,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Down 0.6%

ONON stock opened at $56.59 on Monday. The firm has a market capitalization of $35.63 billion, a PE ratio of 131.60, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The stock has a 50-day simple moving average of $49.97 and a two-hundred day simple moving average of $52.54.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Wednesday, February 12th. Williams Trading lifted their price target on shares of ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, March 11th. Robert W. Baird raised their price objective on ON from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 14th. Finally, Citigroup upgraded ON from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $65.00 to $60.00 in a research note on Monday, April 28th. 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $62.45.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.