National Bank of Canada FI Has $7.05 Million Stock Position in On Holding AG (NYSE:ONON)

National Bank of Canada FI boosted its holdings in shares of On Holding AG (NYSE:ONON) by 5,339.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 140,601 shares of the company’s stock after acquiring an additional 138,016 shares during the quarter. National Bank of Canada FI’s holdings in ON were worth $7,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. EP Wealth Advisors LLC acquired a new stake in shares of ON during the third quarter worth approximately $258,000. Insigneo Advisory Services LLC purchased a new stake in ON in the 3rd quarter worth approximately $329,000. State Street Corp boosted its stake in shares of ON by 1.8% during the 3rd quarter. State Street Corp now owns 228,847 shares of the company’s stock valued at $11,477,000 after buying an additional 4,152 shares during the period. Stifel Financial Corp grew its holdings in shares of ON by 5.3% during the 3rd quarter. Stifel Financial Corp now owns 176,472 shares of the company’s stock valued at $8,850,000 after acquiring an additional 8,892 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of ON during the third quarter worth $453,000. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ONON. Piper Sandler upped their target price on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Truist Financial raised their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a research report on Monday, September 23rd. KeyCorp raised their price target on shares of ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, Morgan Stanley upped their price objective on shares of ON from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Four equities 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 stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and an average price target of $56.38.

ON Stock Up 5.5 %

Shares of ONON opened at $58.19 on Thursday. The stock’s 50-day moving average price is $52.36 and its 200 day moving average price is $46.02. On Holding AG has a 12-month low of $25.78 and a 12-month high of $60.12. The firm has a market capitalization of $36.64 billion, a price-to-earnings ratio of 135.33 and a beta of 2.30.

ON Company Profile

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.