Citigroup Inc. Sells 666,830 Shares of On Holding AG (NYSE:ONON)

Citigroup Inc. lowered its holdings in On Holding AG (NYSE:ONON) by 85.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,981 shares of the company’s stock after selling 666,830 shares during the quarter. Citigroup Inc.’s holdings in ON were worth $5,816,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its stake in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in ON during the third quarter valued at about $29,000. Quarry LP purchased a new position in ON in the second quarter valued at about $32,000. Finally, MFA Wealth Advisors LLC bought a new position in ON in the third quarter worth about $50,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analyst Ratings Changes

ONON has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. KeyCorp lifted their price target on shares of ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, Truist Financial increased their price target on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.05.

ON Stock Performance

Shares of ON stock opened at $58.33 on Monday. On Holding AG has a fifty-two week low of $25.78 and a fifty-two week high of $59.19. The company has a market cap of $36.73 billion, a P/E ratio of 135.65 and a beta of 2.25. The firm has a 50-day simple moving average of $51.16 and a two-hundred day simple moving average of $44.97.

ON Company 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.