On Holding AG (NYSE:ONON) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in On Holding AG (NYSE:ONON - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,186 shares of the company's stock after buying an additional 9,176 shares during the quarter. Cetera Investment Advisers' holdings in ON were worth $2,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC increased its position in ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ON by 34.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new position in ON in the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets purchased a new position in ON in the fourth quarter worth approximately $39,119,000. Finally, Raymond James Financial Inc. acquired a new stake in ON during the fourth quarter worth $28,575,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

Shares of ONON stock traded down $0.49 during mid-day trading on Wednesday, hitting $59.19. The stock had a trading volume of 5,536,894 shares, compared to its average volume of 4,626,192. The firm has a market cap of $37.27 billion, a PE ratio of 137.64, a PEG ratio of 1.02 and a beta of 2.30. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The company's 50-day simple moving average is $46.69 and its 200-day simple moving average is $51.89.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on ON in a report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price target for the company. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Raymond James reissued a "strong-buy" rating on shares of ON in a research report on Wednesday, May 14th. Needham & Company LLC raised their price target on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reiterated an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Two 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. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $62.45.

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.