Wealthedge Investment Advisors LLC Acquires New Shares in On Holding AG (NYSE:ONON)

Wealthedge Investment Advisors LLC bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,408 shares of the company's stock, valued at approximately $1,556,000.

Several other hedge funds have also recently modified their holdings of ONON. FMR LLC raised its holdings in ON by 1.6% during the 4th quarter. FMR LLC now owns 28,875,965 shares of the company's stock valued at $1,581,537,000 after acquiring an additional 462,738 shares during the period. Alliancebernstein L.P. increased its stake 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 during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of ON by 0.6% in 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 buying an additional 18,752 shares during the period. Norges Bank purchased a new position in shares of ON in the fourth quarter worth about $164,574,000. Finally, Jennison Associates LLC increased its holdings in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after buying an additional 440,685 shares during the period. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group set a $75.00 price objective on ON in a report on Wednesday, May 14th. Telsey Advisory Group reissued an "outperform" rating and issued a $65.00 target price on shares of ON in a research note on Tuesday, May 13th. Stifel Nicolaus raised their target price on ON from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Piper Sandler reissued an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Finally, Needham & Company LLC raised their target price on ON from $55.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $62.45.

ON Stock Up 1.0%

Shares of NYSE ONON traded up $0.59 during trading on Friday, reaching $59.43. The company had a trading volume of 3,404,469 shares, compared to its average volume of 4,600,358. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05. The stock has a market cap of $37.42 billion, a PE ratio of 138.21, a P/E/G ratio of 1.02 and a beta of 2.30. The business's 50-day moving average is $48.64 and its 200 day moving average is $52.38.

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.