Munro Partners Sells 225,861 Shares of On Holding AG $ONON

Munro Partners lessened its position in On Holding AG (NYSE:ONON) by 44.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 284,190 shares of the company’s stock after selling 225,861 shares during the quarter. Munro Partners’ holdings in ON were worth $12,035,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winslow Capital Management LLC bought a new position in ON in the second quarter worth $248,113,000. Sands Capital Management LLC bought a new position in shares of ON in the 2nd quarter worth about $240,177,000. Norges Bank purchased a new position in ON during the 2nd quarter valued at about $138,641,000. Alliancebernstein L.P. lifted its position in ON by 13.9% during the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after acquiring an additional 2,416,534 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in ON by 4,564.3% during the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock worth $119,752,000 after acquiring an additional 2,242,480 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 0.5%

Shares of NYSE:ONON opened at $47.90 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. On Holding AG has a 1 year low of $34.38 and a 1 year high of $64.05. The company has a market cap of $30.08 billion, a P/E ratio of 62.21, a PEG ratio of 2.85 and a beta of 2.16. The stock’s fifty day moving average price is $42.86 and its 200-day moving average price is $46.23.

Wall Street Analyst Weigh In

ONON has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of ON from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Singular Research raised ON to a “strong-buy” rating in a research report on Monday, November 17th. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of ON in a report on Tuesday, November 4th. Needham & Company LLC reduced their price target on ON from $62.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Finally, Citigroup lowered ON from a “buy” rating to a “mixed” rating in a research report on Tuesday, October 28th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.27.

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.