Assetmark Inc. Makes New $160,000 Investment in On Holding AG (NYSE:ONON)

Assetmark Inc. purchased a new position in shares of On Holding AG (NYSE:ONON) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,200 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of ON by 96.5% in the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after purchasing an additional 49,995 shares during the last quarter. Forte Capital LLC ADV bought a new position in shares of ON in the third quarter worth approximately $742,000. Radnor Capital Management LLC bought a new position in shares of ON in the third quarter worth approximately $338,000. Pittenger & Anderson Inc. grew its holdings in shares of ON by 426.5% in the third quarter. Pittenger & Anderson Inc. now owns 10,530 shares of the company’s stock worth $528,000 after purchasing an additional 8,530 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of ON by 34.1% in the third quarter. Asset Management One Co. Ltd. now owns 25,031 shares of the company’s stock worth $1,255,000 after purchasing an additional 6,365 shares during the last quarter. Institutional investors own 33.11% of the company’s stock.

ON Price Performance

ONON opened at $51.92 on Monday. The stock has a 50-day moving average price of $49.56 and a 200-day moving average price of $43.34. The firm has a market cap of $32.69 billion, a PE ratio of 120.75 and a beta of 2.25. On Holding AG has a 1 year low of $25.78 and a 1 year high of $56.44.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONON. Robert W. Baird lifted their price target on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $55.00 in a report on Monday, September 23rd. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. Piper Sandler lifted their price target on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, HSBC began coverage on shares of ON in a report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.33.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.