Amundi Reduces Position in On Holding AG (NYSE:ONON)

Amundi cut its position in shares of On Holding AG (NYSE:ONON) by 9.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 436,716 shares of the company’s stock after selling 43,169 shares during the quarter. Amundi’s holdings in ON were worth $24,255,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after acquiring an additional 49,995 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of ON in the 3rd quarter worth approximately $160,000. Apollon Wealth Management LLC purchased a new stake in shares of ON in the 3rd quarter worth approximately $461,000. Prime Capital Investment Advisors LLC lifted its position in ON by 8.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 8,175 shares of the company’s stock valued at $410,000 after acquiring an additional 650 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in ON by 62.7% during the third quarter. Oppenheimer & Co. Inc. now owns 9,661 shares of the company’s stock valued at $484,000 after acquiring an additional 3,723 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON stock opened at $46.42 on Friday. The firm’s 50-day moving average is $54.32 and its two-hundred day moving average is $52.62. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The company has a market capitalization of $29.23 billion, a PE ratio of 107.94, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Wall Street Analyst Weigh In

A number of research firms recently commented on ONON. The Goldman Sachs Group cut 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. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price objective on shares of ON in a research note on Tuesday, March 4th. Bank of America assumed coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. UBS Group raised their price target on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Citigroup initiated coverage on shares of ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $61.90.

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