Jump Financial LLC Purchases 632,965 Shares of On Holding AG $ONON

Key Points

• Jump Financial LLC significantly increased its stake in On Holding AG by 746.6%, owning a total of 717,740 shares worth approximately $31.52 million at the end of the latest reporting period.
• Institutional ownership of On Holding AG stock stands at 36.39%, with several institutions, including Invesco and Stifel Nicolaus, bolstering their positions in the company.
• Wall Street analysts have a moderate buy consensus rating on ONON shares, with the average price target set at $64.20, indicating potential growth ahead.

Jump Financial LLC boosted its position in shares of On Holding AG (NYSE:ONON - Free Report) by 746.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 717,740 shares of the company's stock after purchasing an additional 632,965 shares during the quarter. Jump Financial LLC owned about 0.11% of ON worth $31,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in shares of ON by 136.6% during the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company's stock valued at $212,943,000 after acquiring an additional 2,798,794 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of ON by 1.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,395,611 shares of the company's stock worth $149,136,000 after purchasing an additional 34,120 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of ON by 8.3% in the 1st quarter. 1832 Asset Management L.P. now owns 2,344,700 shares of the company's stock worth $102,979,000 after purchasing an additional 178,750 shares during the period. Nuveen LLC bought a new position in shares of ON in the 1st quarter worth approximately $102,850,000. Finally, Voloridge Investment Management LLC lifted its stake in shares of ON by 10.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,026,890 shares of the company's stock worth $111,013,000 after purchasing an additional 196,270 shares during the period. Hedge funds and other institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ONON. UBS Group raised their target price on shares of ON from $75.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Evercore ISI lifted their price objective on shares of ON from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and issued a $62.00 target price on shares of ON in a report on Tuesday, August 12th. Piper Sandler reissued an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Finally, Raymond James Financial lowered shares of ON from a "strong-buy" rating to an "outperform" rating and set a $66.00 target price for the company. in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.20.

ON Trading Down 0.8%

Shares of ONON traded down $0.36 during trading hours on Thursday, reaching $44.82. 1,908,402 shares of the company traded hands, compared to its average volume of 5,435,641. The firm has a market cap of $28.22 billion, a price-to-earnings ratio of 99.75, a PEG ratio of 4.99 and a beta of 2.24. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $49.99 and its 200 day moving average price is $49.85.

ON Company 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.