Banque Cantonale Vaudoise Reduces Stock Holdings in On Holding AG (NYSE:ONON)

Banque Cantonale Vaudoise cut its stake in shares of On Holding AG (NYSE:ONON) by 32.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,549 shares of the company’s stock after selling 29,092 shares during the period. Banque Cantonale Vaudoise’s holdings in ON were worth $3,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. purchased a new position in ON in the 3rd quarter valued at about $29,000. RiverPark Advisors LLC acquired a new position in shares of ON in the third quarter worth about $175,000. Accredited Investors Inc. purchased a new position in ON in the third quarter valued at about $256,000. River Street Advisors LLC acquired a new stake in ON during the 3rd quarter valued at approximately $183,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in ON during the 3rd quarter worth approximately $254,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Barclays boosted their target price on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Raymond James assumed coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, ON currently has an average rating of “Moderate Buy” and an average target price of $54.33.

ON Stock Performance

Shares of ONON opened at $53.42 on Wednesday. The firm has a market capitalization of $33.64 billion, a price-to-earnings ratio of 124.23 and a beta of 2.25. The stock’s fifty day moving average is $49.86 and its 200-day moving average is $43.61. On Holding AG has a one year low of $25.78 and a one year high of $56.44.

ON Profile

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.