Pictet Asset Management Holding SA Trims Stock Position in On Holding AG (NYSE:ONON)

Pictet Asset Management Holding SA reduced its stake in On Holding AG (NYSE:ONON) by 22.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,443,260 shares of the company’s stock after selling 416,504 shares during the period. Pictet Asset Management Holding SA’s holdings in ON were worth $79,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ONON. Private Trust Co. NA purchased a new position in ON in the 3rd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the 4th quarter worth $30,000. Legacy Bridge LLC purchased a new stake in shares of ON in the fourth quarter valued at about $43,000. Arcadia Investment Management Corp MI acquired a new position in shares of ON during the fourth quarter worth about $53,000. Finally, VisionPoint Advisory Group LLC purchased a new position in ON during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

ONON has been the topic of several recent analyst reports. Bank of America began coverage on ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Williams Trading increased their price objective on ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of ON in a report on Tuesday, March 4th. Finally, Morgan Stanley boosted their price objective on shares of ON from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $61.90.

ON Stock Down 4.1 %

Shares of NYSE:ONON opened at $44.10 on Friday. The company has a market capitalization of $27.76 billion, a P/E ratio of 102.55, a P/E/G ratio of 1.02 and a beta of 2.35. The stock’s fifty day simple moving average is $52.13 and its 200-day simple moving average is $52.67. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05.

ON Company 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.