75,739 Shares in On Holding AG (NYSE:ONON) Bought by Lbp Am Sa

LBP AM SA purchased a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 75,739 shares of the company's stock, valued at approximately $3,326,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ON in the 4th quarter valued at $164,574,000. Arrowstreet Capital Limited Partnership acquired a new position in ON in the fourth quarter valued at $78,799,000. Axiom Investors LLC DE acquired a new stake in shares of ON in the 4th quarter valued at about $39,320,000. BNP Paribas Financial Markets acquired a new stake in shares of ON in the 4th quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ON in the 4th quarter valued at about $28,575,000. Institutional investors and hedge funds own 36.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ONON shares. Needham & Company LLC increased their price objective on ON from $55.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Jefferies Financial Group assumed coverage on ON in a report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price target for the company. Morgan Stanley reduced their target price on shares of ON from $66.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Truist Financial raised their price objective on shares of ON from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $65.00 price objective on shares of ON in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $63.85.

ON Trading Down 1.6%

NYSE ONON traded down $0.84 during trading hours on Friday, hitting $52.47. 3,611,126 shares of the company's stock were exchanged, compared to its average volume of 4,670,886. The business's 50 day moving average is $54.95 and its 200-day moving average is $51.91. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The firm has a market capitalization of $33.04 billion, a P/E ratio of 76.16, a price-to-earnings-growth ratio of 3.00 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80.

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.