On Holding AG (NYSE:ONON) Stock Holdings Increased by State Street Corp

State Street Corp lifted its holdings in On Holding AG (NYSE:ONON) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 228,847 shares of the company’s stock after purchasing an additional 4,152 shares during the quarter. State Street Corp’s holdings in ON were worth $11,477,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ONON. Stifel Financial Corp grew its position in ON by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 176,472 shares of the company’s stock valued at $8,850,000 after buying an additional 8,892 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of ON in the third quarter valued at approximately $453,000. Centiva Capital LP increased its stake in shares of ON by 16.5% during the third quarter. Centiva Capital LP now owns 12,377 shares of the company’s stock valued at $621,000 after acquiring an additional 1,754 shares during the period. Paloma Partners Management Co bought a new stake in ON during the third quarter worth approximately $336,000. Finally, Wasatch Advisors LP lifted its position in ON by 4.3% in the third quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock worth $21,040,000 after purchasing an additional 17,362 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON opened at $56.45 on Thursday. The company has a market capitalization of $35.54 billion, a PE ratio of 131.28 and a beta of 2.30. The company’s 50 day moving average price is $53.48 and its 200 day moving average price is $46.99. On Holding AG has a 52 week low of $25.78 and a 52 week high of $60.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. HSBC assumed coverage on shares of ON in a research report on Thursday, September 5th. They issued a “hold” rating and a $52.00 price target on the stock. UBS Group raised their price objective on shares of ON from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Truist Financial boosted their target price on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC started coverage on shares of ON in a research report on Friday, November 22nd. They issued a “buy” rating and a $64.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ON has an average rating of “Moderate Buy” and a consensus target price of $56.77.

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.