On Holding AG $ONON Shares Sold by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management lowered its position in On Holding AG (NYSE:ONON) by 22.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 46,407 shares of the company’s stock after selling 13,567 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in ON were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ONON. Winslow Capital Management LLC purchased a new position in ON during the 2nd quarter worth approximately $248,113,000. Sands Capital Management LLC purchased a new stake in shares of ON in the 2nd quarter valued at $240,177,000. Bamco Inc. NY increased its stake in shares of ON by 3.3% in the second quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock worth $215,486,000 after acquiring an additional 132,756 shares during the period. American Century Companies Inc. increased its stake in shares of ON by 9.9% in the third quarter. American Century Companies Inc. now owns 4,058,475 shares of the company’s stock worth $171,876,000 after acquiring an additional 365,907 shares during the period. Finally, Norges Bank purchased a new position in shares of ON during the second quarter worth $138,641,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $41.44 on Monday. The company’s fifty day moving average price is $46.07 and its 200 day moving average price is $44.37. On Holding AG has a 1 year low of $34.38 and a 1 year high of $61.29. The company has a market capitalization of $26.02 billion, a PE ratio of 57.55, a price-to-earnings-growth ratio of 0.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.13 and a current ratio of 2.71.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ONON shares. Stifel Nicolaus set a $58.00 target price on shares of ON in a research report on Tuesday, March 3rd. Morgan Stanley increased their price target on ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of ON in a research note on Thursday, February 26th. Zacks Research raised ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $65.00 target price on shares of ON in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.41.

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.