Two Sigma Investments LP Purchases 178,362 Shares of On Holding AG (NYSE:ONON)

Two Sigma Investments LP boosted its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 265.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,498 shares of the company's stock after purchasing an additional 178,362 shares during the quarter. Two Sigma Investments LP's holdings in ON were worth $13,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Bennett Selby Investments LP boosted its position in ON by 7.8% during the fourth quarter. Bennett Selby Investments LP now owns 21,849 shares of the company's stock worth $1,197,000 after purchasing an additional 1,578 shares during the period. Blue Trust Inc. lifted its holdings in shares of ON by 148.8% during the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock worth $66,000 after buying an additional 787 shares in the last quarter. Legacy Bridge LLC acquired a new stake in shares of ON during the fourth quarter worth $43,000. R Squared Ltd acquired a new stake in shares of ON during the fourth quarter worth $154,000. Finally, Spire Wealth Management lifted its holdings in shares of ON by 134.2% during the fourth quarter. Spire Wealth Management now owns 3,567 shares of the company's stock worth $195,000 after buying an additional 2,044 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Down 0.8%

ON stock traded down $0.47 during midday trading on Thursday, reaching $59.32. The company's stock had a trading volume of 1,544,560 shares, compared to its average volume of 4,592,162. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05. The business has a 50-day moving average price of $48.20 and a 200-day moving average price of $52.30. The stock has a market cap of $37.35 billion, a PE ratio of 137.84, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ONON shares. Barclays set a $68.00 target price on ON in a report on Wednesday, May 14th. Hsbc Global Res raised ON from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 11th. Cowen reissued a "buy" rating on shares of ON in a report on Wednesday, May 14th. UBS Group set a $75.00 target price on ON in a report on Wednesday, May 14th. Finally, Needham & Company LLC lifted their target price on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $62.45.

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.