Farther Finance Advisors LLC Has $214,000 Position in On Holding AG (NYSE:ONON)

Farther Finance Advisors LLC cut its stake in On Holding AG (NYSE:ONON) by 8.0% during the fourth quarter, HoldingsChannel reports. The fund owned 3,915 shares of the company’s stock after selling 340 shares during the quarter. Farther Finance Advisors LLC’s holdings in ON were worth $214,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA acquired a new position in shares of ON in the third quarter worth $26,000. Strategic Financial Concepts LLC acquired a new position in shares of ON in the fourth quarter worth $30,000. Legacy Bridge LLC acquired a new position in shares of ON in the fourth quarter worth $43,000. Arcadia Investment Management Corp MI acquired a new position in shares of ON in the fourth quarter worth $53,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of ON in the fourth quarter worth $65,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

NYSE ONON opened at $47.01 on Thursday. The firm has a 50-day simple moving average of $53.63 and a 200 day simple moving average of $52.66. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The stock has a market cap of $29.60 billion, a PE ratio of 109.33, a PEG ratio of 1.02 and a beta of 2.35.

Wall Street Analysts Forecast Growth

ONON has been the topic of a number of research reports. KeyCorp reaffirmed an “overweight” rating and issued a $68.00 price target on shares of ON in a research note on Wednesday, March 5th. UBS Group upped their price objective on shares of ON from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a report on Wednesday, February 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price objective on shares of ON in a report on Tuesday, March 4th. Finally, Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ON presently has an average rating of “Buy” and an average price target of $61.90.

About ON

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.