Zurcher Kantonalbank Zurich Cantonalbank Sells 38,015 Shares of On Holding AG (NYSE:ONON)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of On Holding AG (NYSE:ONON) by 83.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,785 shares of the company’s stock after selling 38,015 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ON were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC boosted its holdings in ON by 151.2% in the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company’s stock worth $829,000 after acquiring an additional 11,362 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in ON in the fourth quarter worth about $39,119,000. APEIRON CAPITAL Ltd boosted its holdings in ON by 35.9% in the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company’s stock worth $43,882,000 after acquiring an additional 264,000 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in ON by 9.5% in the first quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company’s stock worth $276,000 after acquiring an additional 544 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ON in the fourth quarter worth about $28,575,000. Institutional investors own 36.39% of the company’s stock.

ON Stock Up 1.0%

Shares of ONON stock opened at $45.61 on Friday. The stock has a 50 day moving average of $52.56 and a 200 day moving average of $51.12. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19. The stock has a market cap of $28.72 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.58 and a beta of 2.24. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05.

Wall Street Analysts Forecast Growth

ONON has been the subject of several recent analyst reports. Needham & Company LLC raised their price target on ON from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Morgan Stanley lowered their price target on ON from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. UBS Group set a $75.00 price objective on ON in a research note on Wednesday, May 14th. KeyCorp raised their price objective on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Finally, Robert W. Baird raised their price objective on ON from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average price target of $64.00.

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.