Private Advisor Group LLC Reduces Holdings in On Holding AG (NYSE:ONON)

Private Advisor Group LLC reduced its holdings in shares of On Holding AG (NYSE:ONON) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ONON. Cerity Partners LLC grew its position in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after purchasing an additional 459,157 shares during the period. Jennison Associates LLC lifted its stake 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 valued at $112,259,000 after purchasing 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 fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after purchasing an additional 349,789 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of ON in the third quarter valued at about $10,263,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 1.4 %

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ONON shares. Raymond James upgraded shares of ON from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $58.00 to $63.00 in a research report on Thursday, November 21st. Robert W. Baird lifted their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. TD Cowen lifted their price target on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. KeyCorp lifted their price target on shares of ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Five equities research 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 company’s stock. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $59.73.

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.