On Holding AG (NYSE:ONON) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in On Holding AG (NYSE:ONON) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,443,260 shares of the company’s stock after selling 416,504 shares during the quarter. Pictet Asset Management Holding SA owned about 0.23% of ON worth $79,047,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ONON. Private Trust Co. NA acquired a new stake in shares of ON in the third quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in ON in the 4th quarter valued at about $30,000. Legacy Bridge LLC purchased a new stake in ON during the fourth quarter worth about $43,000. Arcadia Investment Management Corp MI acquired a new stake in shares of ON during the fourth quarter worth about $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of ON in the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Down 4.1 %

Shares of NYSE ONON opened at $44.10 on Friday. The business has a 50-day moving average price of $52.13 and a 200 day moving average price of $52.67. The stock has a market cap of $27.76 billion, a PE ratio of 102.55, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of ON in a report on Tuesday, March 4th. TD Cowen lifted their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Williams Trading upped their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $61.90.

ON Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.