On Holding AG (NYSE:ONON) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lessened its stake in On Holding AG (NYSE:ONON) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,636 shares of the company’s stock after selling 314 shares during the period. Private Advisor Group LLC’s holdings in ON were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC grew its position in ON by 27.4% in the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Cerity Partners LLC lifted its holdings in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after acquiring an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after acquiring an additional 459,157 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock valued at $21,040,000 after acquiring an additional 17,362 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ONON. Stifel Nicolaus upped their price target on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird upped their price objective on shares of ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. BTIG Research raised shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of ON in a research note on Wednesday, January 15th. Finally, Truist Financial upped their price objective on shares of ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Stock Performance

NYSE:ONON opened at $47.82 on Tuesday. The stock’s 50 day moving average price is $55.58 and its 200 day moving average price is $52.41. On Holding AG has a 52 week low of $27.37 and a 52 week high of $64.05. The company has a market capitalization of $30.11 billion, a P/E ratio of 111.21, a P/E/G ratio of 1.02 and a beta of 2.30.

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.