On Holding AG (NYSE:ONON) Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC trimmed its holdings in shares of On Holding AG (NYSE:ONON) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,276 shares of the company’s stock after selling 38,202 shares during the period. Zevenbergen Capital Investments LLC owned about 0.10% of ON worth $34,685,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ONON. Apollon Wealth Management LLC raised its position in ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after acquiring an additional 6,808 shares in the last quarter. RB Capital Management LLC grew its stake in shares of ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after purchasing an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after buying an additional 71,436 shares in the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONON has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of ON in a research report on Tuesday, March 4th. Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective for the company. Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. Morgan Stanley raised their price target on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus boosted their price objective on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ON presently has a consensus rating of “Buy” and an average price target of $61.90.

ON Price Performance

ON stock opened at $46.22 on Monday. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The stock has a market capitalization of $29.10 billion, a PE ratio of 107.49, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm has a 50 day simple moving average of $53.05 and a 200-day simple moving average of $52.66.

ON 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.