BW Gestao de Investimentos Ltda. Sells 28,000 Shares of On Holding AG $ONON

BW Gestao de Investimentos Ltda. lessened its holdings in shares of On Holding AG (NYSE:ONON) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the company’s stock after selling 28,000 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in ON were worth $8,470,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Winslow Capital Management LLC acquired a new stake in shares of ON in the 2nd quarter valued at $248,113,000. Sands Capital Management LLC acquired a new position in ON during the second quarter worth $240,177,000. Bamco Inc. NY increased 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 worth $215,486,000 after buying an additional 132,756 shares during the last quarter. American Century Companies Inc. raised its holdings in ON by 9.9% during the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock valued at $171,876,000 after buying an additional 365,907 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ON in the second quarter worth about $138,641,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ONON shares. Bank of America upped their price target on ON from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Guggenheim cut their price objective on ON from $59.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. UBS Group reaffirmed a “buy” rating on shares of ON in a research report on Thursday, February 19th. Telsey Advisory Group reiterated an “outperform” rating and set a $65.00 price target on shares of ON in a report on Tuesday, March 3rd. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of ON in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.41.

ON Trading Down 0.4%

Shares of NYSE:ONON opened at $41.29 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71. The stock’s 50-day moving average is $45.95 and its 200-day moving average is $44.35. The company has a market cap of $25.93 billion, a P/E ratio of 57.35, a P/E/G ratio of 0.79 and a beta of 2.14. On Holding AG has a 52-week low of $34.38 and a 52-week high of $61.29.

ON 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.