Lazard Asset Management LLC Has $1.68 Million Stock Holdings in On Holding AG (NYSE:ONON)

Lazard Asset Management LLC cut its stake in shares of On Holding AG (NYSE:ONON) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,716 shares of the company’s stock after selling 2,529 shares during the period. Lazard Asset Management LLC’s holdings in ON were worth $1,681,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ONON. Apollon Wealth Management LLC lifted its position in shares of ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after buying an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets acquired a new stake in shares of ON in the fourth quarter valued at approximately $39,119,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ON in the fourth quarter valued at approximately $28,575,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

ON stock opened at $59.79 on Monday. The stock’s fifty day moving average price is $46.16 and its two-hundred day moving average price is $51.75. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The firm has a market cap of $37.64 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI raised their price objective on ON from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 14th. Piper Sandler reaffirmed an “overweight” rating on shares of ON in a research report on Tuesday, May 13th. Needham & Company LLC lifted their price target on ON from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Cowen reissued a “buy” rating on shares of ON in a report on Wednesday. Finally, Hsbc Global Res raised ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $61.73.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.