On Holding AG (NYSE:ONON) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of On Holding AG (NYSE:ONON) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,841 shares of the company’s stock after acquiring an additional 754 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ON were worth $1,689,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Private Trust Co. NA acquired a new stake in shares of ON in the third quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of ON during the 4th quarter worth approximately $30,000. Legacy Bridge LLC purchased a new stake in shares of ON during the 4th quarter valued at approximately $43,000. Arcadia Investment Management Corp MI purchased a new stake in ON in the fourth quarter valued at $53,000. Finally, VisionPoint Advisory Group LLC acquired a new position in ON in the fourth quarter valued at about $65,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE ONON opened at $46.22 on Friday. The company’s fifty day moving average is $53.05 and its two-hundred day moving average is $52.57. The firm has a market capitalization of $29.10 billion, a price-to-earnings ratio of 107.49, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONON. Citigroup started coverage on shares of ON in a research report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price target on the stock. Morgan Stanley raised their target price on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Two 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’s stock. Based on data from MarketBeat, ON has an average rating of “Buy” and an average target price of $61.90.

About ON

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.