Rakuten Securities Inc. Has $72,000 Stake in On Holding AG (NYSE:ONON)

Rakuten Securities Inc. lifted its holdings in On Holding AG (NYSE:ONON) by 119.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,426 shares of the company’s stock after acquiring an additional 777 shares during the quarter. Rakuten Securities Inc.’s holdings in ON were worth $72,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. 1832 Asset Management L.P. boosted its stake in ON by 66,838.9% in the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after purchasing an additional 2,406,200 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of ON in the first quarter valued at about $65,898,000. Acadian Asset Management LLC lifted its position in ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after buying an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON during the 2nd quarter worth about $43,456,000. Finally, Renaissance Technologies LLC acquired a new stake in ON in the 2nd quarter valued at about $27,975,000. 33.11% of the stock is currently owned by institutional investors.

ON Stock Down 0.2 %

Shares of ONON stock opened at $52.63 on Wednesday. The firm has a market capitalization of $33.14 billion, a price-to-earnings ratio of 99.30 and a beta of 2.25. On Holding AG has a 12-month low of $24.15 and a 12-month high of $54.00. The firm has a fifty day moving average of $49.10 and a 200-day moving average of $42.90.

ON (NYSE:ONON) last posted its earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $627.66 million during the quarter, compared to analyst estimates of $634.43 million. ON had a net margin of 7.42% and a return on equity of 13.02%. Research analysts expect that On Holding AG will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ONON shares. Hsbc Global Res upgraded shares of ON to a “hold” rating in a research report on Thursday, September 5th. Truist Financial upped their price objective on ON from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 target price on shares of ON in a research note on Tuesday. UBS Group upped their price target on ON from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, KeyCorp lifted their price objective on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.37.

About ON

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.