Ameriprise Financial Inc. Has $6.69 Million Stock Holdings in On Holding AG (NYSE:ONON)

Ameriprise Financial Inc. trimmed its position in On Holding AG (NYSE:ONON - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,196 shares of the company's stock after selling 9,393 shares during the period. Ameriprise Financial Inc.'s holdings in ON were worth $6,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AXA S.A. lifted its stake in ON by 5.1% in the fourth quarter. AXA S.A. now owns 684,794 shares of the company's stock valued at $37,506,000 after purchasing an additional 33,100 shares during the last quarter. 1060 Capital LLC bought a new position in shares of ON in the fourth quarter worth $1,369,000. Bison Wealth LLC increased its stake in ON by 35.7% in the fourth quarter. Bison Wealth LLC now owns 9,291 shares of the company's stock valued at $509,000 after acquiring an additional 2,442 shares during the last quarter. PDT Partners LLC increased its stake in ON by 253.8% in the fourth quarter. PDT Partners LLC now owns 78,993 shares of the company's stock valued at $4,326,000 after acquiring an additional 56,669 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in ON by 695.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 149,900 shares of the company's stock valued at $8,210,000 after acquiring an additional 131,054 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONON. Piper Sandler reiterated an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Barclays set a $68.00 price target on shares of ON in a research report on Wednesday, May 14th. Truist Financial lifted their target price on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Cowen reiterated a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Finally, KeyCorp lifted their target price on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ON currently has an average rating of "Buy" and an average price target of $62.45.

ON Stock Performance

Shares of ONON stock traded down $0.38 during trading hours on Friday, reaching $58.44. The company had a trading volume of 4,394,621 shares, compared to its average volume of 4,621,257. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05. The company has a market capitalization of $36.80 billion, a P/E ratio of 135.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The stock's fifty day simple moving average is $47.40 and its 200 day simple moving average is $52.15.

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.