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

Sanctuary Advisors LLC increased its holdings in On Holding AG (NYSE:ONON) by 69.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,487 shares of the company’s stock after purchasing an additional 19,932 shares during the period. Sanctuary Advisors LLC’s holdings in ON were worth $2,432,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. increased its position in shares of ON by 48.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,284 shares of the company’s stock valued at $709,000 after purchasing an additional 5,964 shares during the last quarter. Raymond James & Associates increased its position in shares of ON by 7.8% during the 2nd quarter. Raymond James & Associates now owns 208,125 shares of the company’s stock valued at $8,075,000 after purchasing an additional 15,011 shares during the last quarter. Calamos Advisors LLC increased its position in shares of ON by 63.7% during the 2nd quarter. Calamos Advisors LLC now owns 40,808 shares of the company’s stock valued at $1,583,000 after purchasing an additional 15,883 shares during the last quarter. WD Rutherford LLC increased its position in shares of ON by 155.0% during the 2nd quarter. WD Rutherford LLC now owns 3,748 shares of the company’s stock valued at $145,000 after purchasing an additional 2,278 shares during the last quarter. Finally, SlateStone Wealth LLC increased its position in shares of ON by 4.1% during the 2nd quarter. SlateStone Wealth LLC now owns 24,820 shares of the company’s stock valued at $963,000 after purchasing an additional 975 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONON has been the topic of a number of recent analyst reports. Bank of America upgraded ON from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $55.00 in a research note on Monday, September 23rd. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $60.00 in a research note on Wednesday, November 13th. Stifel Nicolaus increased their target price on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Truist Financial increased their target price on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.38.

ON Price Performance

Shares of ONON stock opened at $56.62 on Wednesday. On Holding AG has a 1-year low of $25.78 and a 1-year high of $60.12. The stock’s 50-day moving average is $52.77 and its 200 day moving average is $46.38. The company has a market cap of $35.65 billion, a P/E ratio of 131.68 and a beta of 2.30.

About ON

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.