On Holding AG (NYSE:ONON) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 96.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,646 shares of the company’s stock after selling 461,960 shares during the quarter. Neuberger Berman Group LLC’s holdings in ON were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in shares of ON by 151.2% in the first quarter. Kestra Private Wealth Services LLC now owns 18,878 shares of the company’s stock valued at $829,000 after purchasing an additional 11,362 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of ON in the fourth quarter valued at approximately $39,119,000. APEIRON CAPITAL Ltd increased its holdings in shares of ON by 35.9% in the first quarter. APEIRON CAPITAL Ltd now owns 999,125 shares of the company’s stock valued at $43,882,000 after purchasing an additional 264,000 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of ON by 9.5% in the first quarter. OneDigital Investment Advisors LLC now owns 6,282 shares of the company’s stock valued at $276,000 after purchasing an additional 544 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of ON in the fourth quarter valued at approximately $28,575,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Up 2.6%

ONON opened at $45.35 on Friday. The business’s fifty day moving average is $51.44 and its two-hundred day moving average is $50.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.18 and a current ratio of 2.53. The company has a market cap of $28.55 billion, a price-to-earnings ratio of 100.78, a PEG ratio of 2.43 and a beta of 2.24. On Holding AG has a one year low of $34.59 and a one year high of $64.05.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of recent research reports. Evercore ISI boosted their target price on ON from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 14th. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of ON in a report on Tuesday. Citigroup raised ON from a “neutral” rating to a “buy” rating and dropped their target price for the company from $65.00 to $60.00 in a report on Monday, April 28th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price target (up from $62.00) on shares of ON in a research note on Wednesday. Finally, Raymond James Financial downgraded ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price target on the stock. in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.20.

ON 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.