Cerity Partners LLC Acquires 38,207 Shares of On Holding AG $ONON

Cerity Partners LLC raised its holdings in shares of On Holding AG (NYSE:ONON) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 800,979 shares of the company’s stock after buying an additional 38,207 shares during the quarter. Cerity Partners LLC owned about 0.13% of ON worth $33,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Winslow Capital Management LLC bought a new stake in shares of ON during the 2nd quarter valued at about $248,113,000. Sands Capital Management LLC purchased a new stake in ON in the second quarter valued at approximately $240,177,000. Bamco Inc. NY lifted its position in ON by 3.3% during the second quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after purchasing an additional 132,756 shares during the last quarter. American Century Companies Inc. grew its stake in ON by 29.4% in the 2nd quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock worth $192,198,000 after buying an additional 839,754 shares in the last quarter. Finally, Norges Bank purchased a new position in ON in the 2nd quarter worth approximately $138,641,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONON. The Goldman Sachs Group lifted their price objective on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Needham & Company LLC lowered their price target on ON from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. UBS Group reiterated a “buy” rating on shares of ON in a report on Monday. Truist Financial reduced their price objective on ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. boosted their target price on ON from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.59.

ON Stock Performance

Shares of ONON stock opened at $50.61 on Friday. The company has a market capitalization of $31.78 billion, a P/E ratio of 65.73, a PEG ratio of 1.46 and a beta of 2.15. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The stock has a 50 day moving average price of $44.36 and a two-hundred day moving average price of $45.81.

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.