Wealthcare Advisory Partners LLC Sells 11,835 Shares of On Holding AG (NYSE:ONON)

Wealthcare Advisory Partners LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 33.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,952 shares of the company's stock after selling 11,835 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in ON were worth $1,052,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ONON. FMR LLC grew its holdings in shares of ON by 1.6% during the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock worth $1,581,537,000 after purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. raised its holdings in ON by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after acquiring an additional 471,805 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of ON by 0.6% during the fourth 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 during the last quarter. Norges Bank bought a new position in ON during the 4th quarter worth approximately $164,574,000. Finally, Voloridge Investment Management LLC boosted its holdings in ON by 10.7% in the fourth 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. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Price Performance

NYSE:ONON traded down $3.38 during mid-day trading on Friday, reaching $52.35. The stock had a trading volume of 9,332,644 shares, compared to its average volume of 4,594,568. The stock has a market cap of $32.96 billion, a P/E ratio of 121.74, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The business's 50 day moving average is $51.23 and its 200 day moving average is $52.57.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ONON shares. Cowen reaffirmed a "buy" rating on shares of ON in a report on Wednesday, May 14th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $65.00 price target on shares of ON in a research note on Tuesday, May 13th. UBS Group set a $75.00 target price on ON in a research note on Wednesday, May 14th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a report on Tuesday, May 13th. Finally, Needham & Company LLC boosted their price objective on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $63.05.

About ON

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.