Zurich Insurance Group Ltd FI reduced its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 54.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,180 shares of the company's stock after selling 110,476 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in ON were worth $5,158,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in ON during the 4th quarter worth about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of ON during the fourth quarter valued at approximately $78,799,000. Axiom Investors LLC DE purchased a new stake in ON in the 4th quarter worth approximately $39,320,000. BNP Paribas Financial Markets acquired a new position in ON in the 4th quarter valued at $39,119,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ON during the 4th quarter worth $28,575,000. 36.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ONON. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price target on the stock in a report on Tuesday, March 11th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 11th. Barclays set a $68.00 target price on ON in a report on Wednesday, May 14th. The Goldman Sachs Group cut shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. Finally, 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. Two investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $62.45.
Read Our Latest Stock Analysis on ON
ON Stock Down 0.6%
ON stock traded down $0.38 during mid-day trading on Monday, hitting $58.44. 4,394,621 shares of the company's stock traded hands, compared to its average volume of 4,621,257. On Holding AG has a one year low of $34.59 and a one year high of $64.05. The company has a market cap of $36.80 billion, a PE ratio of 135.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The firm has a 50 day moving average price of $47.40 and a 200 day moving average price of $52.15.
ON Profile
(
Free Report)
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.
Further Reading
Before you consider ON, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ON wasn't on the list.
While ON currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
