Allspring Global Investments Holdings LLC Sells 451,945 Shares of On Holding AG (NYSE:ONON)

Allspring Global Investments Holdings LLC reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 924,905 shares of the company's stock after selling 451,945 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of ON worth $39,493,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Artemis Investment Management LLP increased its holdings in shares of ON by 4.2% during the first quarter. Artemis Investment Management LLP now owns 12,715 shares of the company's stock worth $558,000 after purchasing an additional 517 shares during the period. Atala Financial Inc raised its position in ON by 77.7% during the first quarter. Atala Financial Inc now owns 34,625 shares of the company's stock valued at $1,519,000 after purchasing an additional 15,143 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in ON during the first quarter valued at approximately $233,000. Aurora Private Wealth Inc. acquired a new position in ON during the first quarter valued at approximately $591,000. Finally, Harbour Capital Advisors LLC acquired a new position in ON during the first quarter valued at approximately $237,000. 36.39% of the stock is owned by institutional investors.

ON Trading Up 0.4%

Shares of NYSE:ONON traded up $0.23 during mid-day trading on Tuesday, reaching $52.28. 4,708,491 shares of the company's stock were exchanged, compared to its average volume of 4,631,085. The business's fifty day moving average price is $53.64 and its 200-day moving average price is $52.03. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 3.00 and a beta of 2.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.18 and a current ratio of 2.80.

Wall Street Analyst Weigh In

ONON has been the subject of several research analyst reports. Telsey Advisory Group restated an "outperform" rating and set a $65.00 price objective on shares of ON in a research report on Tuesday, May 13th. Barclays set a $68.00 price objective on shares of ON in a research report on Wednesday, May 14th. Jefferies Financial Group started coverage on shares of ON in a research report on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective for the company. KeyCorp raised their target price on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Robert W. Baird raised their target price on shares of ON from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ON currently has an average rating of "Buy" and an average price target of $63.85.

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.