Principal Securities Inc. Purchases 610 Shares of On Holding AG (NYSE:ONON)

Principal Securities Inc. grew its position in On Holding AG (NYSE:ONON) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,513 shares of the company’s stock after acquiring an additional 610 shares during the period. Principal Securities Inc.’s holdings in ON were worth $138,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Banque Pictet & Cie SA increased its stake in shares of ON by 0.8% during the fourth quarter. Banque Pictet & Cie SA now owns 233,975 shares of the company’s stock worth $12,815,000 after purchasing an additional 1,950 shares during the period. HMS Capital Management LLC bought a new position in ON during the 4th quarter worth $315,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares in the last quarter. Capital Advisors Inc. OK boosted its position in shares of ON by 3.2% in the fourth quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company’s stock valued at $350,000 after acquiring an additional 200 shares during the period. Finally, Stephens Inc. AR boosted its position in shares of ON by 1.3% in the fourth quarter. Stephens Inc. AR now owns 42,327 shares of the company’s stock valued at $2,318,000 after acquiring an additional 550 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

Shares of ONON stock opened at $48.43 on Wednesday. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 112.62, a PEG ratio of 1.02 and a beta of 2.30. On Holding AG has a 1 year low of $27.37 and a 1 year high of $64.05. The firm has a fifty day moving average price of $56.02 and a 200-day moving average price of $52.24.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup began coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen boosted their price objective on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America assumed coverage on ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.73.

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, 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.