J. Goldman & Co LP purchased a new stake in shares of On Holding AG (NYSE:ONON - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 109,791 shares of the company's stock, valued at approximately $6,013,000.
A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of ON during the 4th quarter valued at about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new stake in ON in the fourth quarter worth approximately $78,799,000. Axiom Investors LLC DE bought a new stake in ON in the 4th quarter worth approximately $39,320,000. BNP Paribas Financial Markets purchased a new stake in ON during the 4th quarter valued at $39,119,000. Finally, Raymond James Financial Inc. purchased a new stake in ON during the 4th quarter valued at $28,575,000. 36.39% of the stock is currently owned by hedge funds and other institutional investors.
ON Stock Performance
Shares of ON stock traded down $0.47 during trading hours on Friday, hitting $59.79. The company's stock had a trading volume of 6,103,515 shares, compared to its average volume of 4,642,454. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The business has a 50 day moving average price of $45.87 and a two-hundred day moving average price of $51.63. The company has a market cap of $37.64 billion, a PE ratio of 139.04, a PEG ratio of 1.02 and a beta of 2.30.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ONON. Jefferies Financial Group began coverage on ON in a report on Tuesday, April 1st. They issued a "hold" rating and a $44.00 price objective for the company. Truist Financial boosted their price target on ON from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of ON in a report on Wednesday. Finally, Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and reduced their target price for the company from $65.00 to $60.00 in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ON currently has a consensus rating of "Buy" and an average price target of $61.73.
Check Out Our Latest Analysis on ONON
ON Profile
(
Free Report)
On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.
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