Lazard Freres Gestion S.A.S. Sells 1,592 Shares of On Holding AG (NYSE:ONON)

Lazard Freres Gestion S.A.S. reduced its position in shares of On Holding AG (NYSE:ONON) by 13.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,250 shares of the company’s stock after selling 1,592 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in ON were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. boosted its holdings in ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock valued at $93,500,000 after acquiring an additional 2,406,200 shares during the period. Acadian Asset Management LLC increased its position in ON by 574.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of ON during the second quarter worth approximately $43,456,000. Renaissance Technologies LLC bought a new stake in shares of ON in the second quarter valued at approximately $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays boosted their price objective on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Needham & Company LLC assumed coverage on ON in a research report on Friday. They issued a “buy” rating and a $64.00 price objective for the company. Piper Sandler boosted their price objective on ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group upped their target price on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group lifted their price target on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.05.

ON Trading Down 0.4 %

Shares of NYSE:ONON traded down $0.21 during trading on Tuesday, hitting $58.26. 100,054 shares of the company’s stock were exchanged, compared to its average volume of 4,923,756. The firm has a 50-day moving average price of $50.52 and a two-hundred day moving average price of $44.27. On Holding AG has a 1-year low of $25.78 and a 1-year high of $59.19. The firm has a market cap of $36.68 billion, a P/E ratio of 136.07 and a beta of 2.25.

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.