Corient Private Wealth LLC Sells 5,988 Shares of On Holding AG (NYSE:ONON)

Corient Private Wealth LLC trimmed its stake in On Holding AG (NYSE:ONON) by 14.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,847 shares of the company’s stock after selling 5,988 shares during the period. Corient Private Wealth LLC’s holdings in ON were worth $1,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its position in ON by 53.0% in the third quarter. Advisors Asset Management Inc. now owns 7,572 shares of the company’s stock worth $380,000 after buying an additional 2,622 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of ON by 17.4% in the 3rd quarter. Penserra Capital Management LLC now owns 33,801 shares of the company’s stock worth $1,694,000 after acquiring an additional 5,000 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in ON during the 3rd quarter valued at about $658,000. Private Trust Co. NA purchased a new stake in ON in the 3rd quarter worth about $26,000. Finally, Bank of Montreal Can lifted its stake in ON by 27.2% in the third quarter. Bank of Montreal Can now owns 46,320 shares of the company’s stock worth $2,368,000 after purchasing an additional 9,895 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ONON. TD Cowen increased their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Wednesday, February 12th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $61.90.

ON Trading Up 4.6 %

NYSE:ONON opened at $48.38 on Tuesday. The stock has a 50 day moving average of $52.91 and a two-hundred day moving average of $52.69. The firm has a market cap of $30.47 billion, a P/E ratio of 112.52, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05.

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.