Marshall Wace LLP Sells 629,869 Shares of On Holding AG (NYSE:ONON)

Marshall Wace LLP lowered its position in shares of On Holding AG (NYSE:ONON - Free Report) by 87.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,588 shares of the company's stock after selling 629,869 shares during the quarter. Marshall Wace LLP's holdings in ON were worth $5,071,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in shares of 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 buying an additional 462,738 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of 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. Norges Bank bought a new position in shares of ON in the fourth quarter worth about $164,574,000. Jennison Associates LLC grew its position in shares of ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after purchasing an additional 440,685 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in ON during the 4th quarter valued at approximately $78,799,000. 36.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler cut their price objective on shares of ON from $62.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, April 11th. UBS Group raised their target price on shares of ON from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday. Needham & Company LLC decreased their price target on shares of ON from $64.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Stifel Nicolaus cut their price objective on ON from $66.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 target price on shares of ON in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $58.77.

ON Trading Up 0.4 %

Shares of NYSE ONON traded up $0.21 during midday trading on Wednesday, hitting $48.11. The company's stock had a trading volume of 3,413,557 shares, compared to its average volume of 4,690,957. The business's 50 day moving average is $45.19 and its two-hundred day moving average is $51.42. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The firm has a market cap of $30.29 billion, a P/E ratio of 111.89, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

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, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.