Varma Mutual Pension Insurance Co Purchases Shares of 65,000 On Holding AG $ONON

Varma Mutual Pension Insurance Co acquired a new position in shares of On Holding AG (NYSE:ONON) in the third quarter, HoldingsChannel reports. The institutional investor acquired 65,000 shares of the company’s stock, valued at approximately $2,753,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bison Wealth LLC lifted its holdings in ON by 35.7% during the 4th quarter. Bison Wealth LLC now owns 9,291 shares of the company’s stock worth $509,000 after purchasing an additional 2,442 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of ON during the second quarter worth $233,000. Sequoia Financial Advisors LLC bought a new stake in shares of ON in the second quarter valued at about $248,000. TD Asset Management Inc boosted its position in shares of ON by 41.6% in the second quarter. TD Asset Management Inc now owns 370,200 shares of the company’s stock valued at $19,269,000 after acquiring an additional 108,800 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of ON by 69.9% in the second quarter. Harbour Investments Inc. now owns 4,578 shares of the company’s stock valued at $238,000 after acquiring an additional 1,884 shares in the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

Shares of ONON stock opened at $45.27 on Friday. The business has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $44.51. The company has a market cap of $28.43 billion, a P/E ratio of 58.79, a P/E/G ratio of 1.33 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 twelve month low of $34.38 and a twelve month high of $61.29.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of ON from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. The Goldman Sachs Group raised their target price on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 price target on shares of ON in a research note on Wednesday, January 28th. Williams Trading lowered ON from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $55.00 to $47.00 in a research note on Thursday, January 8th. Finally, Stifel Nicolaus set a $60.00 price objective on ON in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.86.

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.