Sanctuary Advisors LLC Cuts Holdings in On Holding AG (NYSE:ONON)

Sanctuary Advisors LLC reduced its position in On Holding AG (NYSE:ONON) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,099 shares of the company’s stock after selling 4,388 shares during the quarter. Sanctuary Advisors LLC’s holdings in ON were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of ON in the 3rd quarter worth $26,000. Blue Trust Inc. raised its position in shares of ON by 319.8% in the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in ON in the 3rd quarter valued at $29,000. Finally, Strategic Financial Concepts LLC acquired a new stake in ON in the 4th quarter valued at $30,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Down 5.8 %

Shares of NYSE ONON opened at $48.23 on Friday. The firm’s 50-day moving average price is $56.37 and its two-hundred day moving average price is $52.01. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05. The stock has a market capitalization of $30.37 billion, a P/E ratio of 112.16, a P/E/G ratio of 1.02 and a beta of 2.30.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on ON from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price target on shares of ON in a report on Wednesday, January 15th. TD Cowen increased their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. UBS Group reiterated a “buy” rating and issued a $63.00 price target on shares of ON in a report on Friday, December 27th. Finally, Williams Trading upgraded ON from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $60.00 in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

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.