Envestnet Asset Management Inc. Increases Holdings in On Holding AG (NYSE:ONON)

Envestnet Asset Management Inc. increased its position in On Holding AG (NYSE:ONON) by 11.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 413,491 shares of the company’s stock after purchasing an additional 40,837 shares during the period. Envestnet Asset Management Inc. owned 0.07% of ON worth $18,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Keystone Investors PTE Ltd. raised its position in shares of ON by 0.8% in the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company’s stock worth $1,639,000 after buying an additional 228 shares during the period. Sage Capital Advisors llc boosted its stake in ON by 0.3% in the first quarter. Sage Capital Advisors llc now owns 100,329 shares of the company’s stock valued at $4,406,000 after acquiring an additional 269 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of ON by 2.4% during the fourth quarter. CreativeOne Wealth LLC now owns 13,574 shares of the company’s stock valued at $743,000 after buying an additional 323 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of ON by 2.9% during the first quarter. Merit Financial Group LLC now owns 12,275 shares of the company’s stock valued at $539,000 after buying an additional 348 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in ON by 24.1% during the fourth quarter. Harbour Investments Inc. now owns 1,928 shares of the company’s stock worth $106,000 after purchasing an additional 375 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays set a $68.00 target price on ON in a report on Wednesday, May 14th. Morgan Stanley cut their price target on shares of ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Cowen restated a “buy” rating on shares of ON in a research report on Wednesday, May 14th. Needham & Company LLC boosted their price target on shares of ON from $55.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, KeyCorp increased their price objective on shares of ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $63.85.

ON Stock Up 2.5%

NYSE:ONON opened at $54.19 on Friday. The firm has a market cap of $34.12 billion, a PE ratio of 77.42, a price-to-earnings-growth ratio of 2.96 and a beta of 2.25. The company has a 50-day moving average of $55.32 and a 200 day moving average of $51.84. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.80 and a quick ratio of 2.18.

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.