34,792 Shares in On Holding AG $ONON Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in shares of On Holding AG (NYSE:ONON) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 34,792 shares of the company’s stock, valued at approximately $1,473,000.

A number of other large investors also recently modified their holdings of ONON. Winslow Capital Management LLC acquired a new position in shares of ON in the 2nd quarter valued at about $248,113,000. Sands Capital Management LLC bought a new position in ON in the second quarter worth about $240,177,000. Norges Bank bought a new position in ON in the second quarter worth about $138,641,000. Ameriprise Financial Inc. boosted its stake in ON by 4,564.3% in the second quarter. Ameriprise Financial Inc. now owns 2,291,611 shares of the company’s stock valued at $119,752,000 after acquiring an additional 2,242,480 shares during the period. Finally, State Street Corp grew its holdings in shares of ON by 765.4% during the second quarter. State Street Corp now owns 2,219,015 shares of the company’s stock valued at $115,500,000 after purchasing an additional 1,962,586 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

ON Stock Performance

ONON stock opened at $48.65 on Thursday. The company has a 50-day simple moving average of $44.09 and a 200 day simple moving average of $45.78. The company has a market capitalization of $30.55 billion, a P/E ratio of 63.18, a PEG ratio of 1.47 and a beta of 2.15. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. On Holding AG has a fifty-two week low of $34.38 and a fifty-two week high of $64.05.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ONON. Truist Financial cut their price target on ON from $69.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 10th. BTIG Research reiterated a “buy” rating and issued a $70.00 target price on shares of ON in a research note on Tuesday, November 4th. TD Cowen boosted their price target on shares of ON from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Barclays dropped their price objective on shares of ON from $69.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, Zacks Research raised shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.27.

About ON

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.