On Holding AG (NYSE:ONON) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of 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 SEC. The institutional investor owned 924,905 shares of the company's stock after selling 451,945 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of ON worth $39,493,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in ON by 1.6% in the fourth quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after acquiring an additional 462,738 shares during the period. Alliancebernstein L.P. boosted its stake in ON by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock worth $951,808,000 after purchasing an additional 471,805 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of ON by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company's stock worth $184,109,000 after purchasing an additional 18,752 shares in the last quarter. Norges Bank bought a new position in ON during the fourth quarter valued at approximately $164,574,000. Finally, Voloridge Investment Management LLC raised its holdings in 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.

ON Price Performance

Shares of NYSE:ONON traded up $0.55 on Friday, reaching $54.25. 3,203,823 shares of the company were exchanged, compared to its average volume of 4,663,080. The firm has a market cap of $34.16 billion, a price-to-earnings ratio of 77.49, a price-to-earnings-growth ratio of 3.07 and a beta of 2.25. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a 50-day moving average of $54.40 and a 200-day moving average of $52.00. The company has a current ratio of 2.80, a quick ratio of 2.18 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

Several research firms recently issued reports on ONON. Jefferies Financial Group began coverage on ON in a research report on Tuesday, April 1st. They set a "hold" rating and a $44.00 target price for the company. Barclays set a $68.00 target price on ON in a report on Wednesday, May 14th. Citigroup raised shares of ON from a "neutral" rating to a "buy" rating and reduced their target price for the company from $65.00 to $60.00 in a research note on Monday, April 28th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ON has a consensus rating of "Buy" and a consensus target price 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.