Commonwealth Equity Services LLC Sells 5,419 Shares of On Holding AG (NYSE:ONON)

Commonwealth Equity Services LLC decreased its position in shares of On Holding AG (NYSE:ONON) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,704 shares of the company’s stock after selling 5,419 shares during the period. Commonwealth Equity Services LLC’s holdings in ON were worth $3,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ONON. Raymond James Financial Inc. bought a new position in shares of ON during the 4th quarter valued at $28,575,000. Lord Abbett & CO. LLC grew its stake in shares of ON by 338.3% during the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after buying an additional 440,685 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of 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. Finally, Zurich Insurance Group Ltd FI purchased a new stake in ON during the 3rd quarter valued at about $10,263,000. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

NYSE:ONON opened at $47.99 on Wednesday. The firm has a market capitalization of $30.22 billion, a P/E ratio of 111.61, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The company’s 50-day simple moving average is $52.91 and its 200 day simple moving average is $52.69.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America began coverage on ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. KeyCorp reissued an “overweight” rating and set a $68.00 price target on shares of ON in a research report on Wednesday, March 5th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $67.00 target price on shares of ON in a report on Tuesday, March 4th. Finally, Williams Trading boosted their price target on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $61.90.

ON 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.