Zevenbergen Capital Investments LLC Has $34.69 Million Stake in On Holding AG (NYSE:ONON)

Zevenbergen Capital Investments LLC reduced its stake in shares of On Holding AG (NYSE:ONON) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,276 shares of the company’s stock after selling 38,202 shares during the period. Zevenbergen Capital Investments LLC’s holdings in ON were worth $34,685,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Private Trust Co. NA bought a new position in shares of ON in the third quarter valued at approximately $26,000. Legacy Bridge LLC acquired a new position in ON during the 4th quarter worth $43,000. Arcadia Investment Management Corp MI bought a new stake in ON during the fourth quarter valued at about $53,000. VisionPoint Advisory Group LLC bought a new position in shares of ON in the fourth quarter worth about $65,000. Finally, Blue Trust Inc. lifted its position in shares of ON by 148.8% during the 4th quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock worth $66,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Wall Street Analyst Weigh In

ONON has been the topic of a number of research analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $68.00 target price on shares of ON in a report on Wednesday, March 5th. The Goldman Sachs Group lowered shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Wednesday, February 12th. Citigroup initiated coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target on the stock. TD Cowen upped their price objective on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Hsbc Global Res raised ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $61.90.

ON Stock Performance

ON stock opened at $46.22 on Monday. The business’s fifty day moving average is $53.05 and its two-hundred day moving average is $52.66. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The firm has a market cap of $29.10 billion, a P/E ratio of 107.49, a P/E/G ratio of 1.02 and a beta of 2.35.

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.