ON Sees Unusually Large Options Volume (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of unusually large options trading activity on Friday. Traders purchased 23,091 call options on the company. This is an increase of approximately 81% compared to the typical volume of 12,726 call options.

ON Price Performance

Shares of ONON opened at $46.22 on Friday. The business’s fifty day moving average price is $53.05 and its 200 day moving average price is $52.57. ON has a 12-month low of $29.84 and a 12-month high of $64.05. The stock has a market capitalization of $29.10 billion, a PE ratio of 107.49, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Hedge Funds Weigh In On ON

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in ON by 1.6% in the fourth quarter. FMR LLC now owns 28,875,965 shares of the company’s stock valued at $1,581,537,000 after buying an additional 462,738 shares during the last quarter. Alliancebernstein L.P. lifted its stake in ON by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after buying an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in ON by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock valued at $184,109,000 after buying an additional 18,752 shares during the last quarter. Norges Bank bought a new stake in ON in the fourth quarter valued at $164,574,000. Finally, Jennison Associates LLC lifted its stake in 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 buying an additional 440,685 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen increased their target price on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America initiated coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. UBS Group increased their price objective on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of ON in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price objective on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. 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 stock. Based on data from MarketBeat, ON has an average rating of “Buy” and an average target price of $61.90.

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.