Allspring Global Investments Holdings LLC Sells 475,438 Shares of On Holding AG $ONON

Allspring Global Investments Holdings LLC lessened its stake in On Holding AG (NYSE:ONON - Free Report) by 51.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 449,467 shares of the company's stock after selling 475,438 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of ON worth $23,467,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ONON. Montag A & Associates Inc. bought a new stake in ON in the 1st quarter worth approximately $26,000. TCTC Holdings LLC grew its position in ON by 118.4% in the 1st quarter. TCTC Holdings LLC now owns 581 shares of the company's stock worth $26,000 after purchasing an additional 315 shares during the period. Smartleaf Asset Management LLC grew its position in ON by 3,392.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 943 shares of the company's stock worth $42,000 after purchasing an additional 916 shares during the period. Ramirez Asset Management Inc. bought a new stake in ON in the 1st quarter worth approximately $44,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ON during the 1st quarter valued at $48,000. Institutional investors own 36.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ONON shares. Morgan Stanley boosted their price objective on shares of ON from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. TD Cowen cut their price objective on shares of ON from $63.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday. Barclays boosted their price objective on shares of ON from $68.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Raymond James Financial downgraded shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 price objective for the company. in a research report on Tuesday, July 22nd. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $65.00 price objective on shares of ON in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.65.

ON Trading Up 1.4%

Shares of ON stock opened at $42.04 on Friday. The company has a market capitalization of $26.47 billion, a P/E ratio of 93.42, a P/E/G ratio of 5.15 and a beta of 2.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.53. The company has a fifty day moving average of $44.25 and a 200 day moving average of $48.60. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05.

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, 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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