Numerai GP LLC Has $2.63 Million Stake in On Holding AG (NYSE:ONON)

Numerai GP LLC trimmed its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,069 shares of the company's stock after selling 33,261 shares during the period. ON comprises 0.7% of Numerai GP LLC's investment portfolio, making the stock its 20th largest position. Numerai GP LLC's holdings in ON were worth $2,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC increased its stake in ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after buying an additional 349,789 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the fourth quarter valued at $30,000. BNP Paribas Financial Markets bought a new position in shares of ON during the 4th quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. bought a new position in shares of ON during the 4th quarter valued at about $28,575,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Up 0.3%

Shares of NYSE ONON traded up $0.19 during midday trading on Monday, reaching $60.09. The company's stock had a trading volume of 1,607,903 shares, compared to its average volume of 4,615,095. On Holding AG has a fifty-two week low of $34.59 and a fifty-two week high of $64.05. The stock has a market capitalization of $37.83 billion, a price-to-earnings ratio of 139.56, a PEG ratio of 1.02 and a beta of 2.30. The stock has a 50 day simple moving average of $46.16 and a 200-day simple moving average of $51.75.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ONON shares. Stifel Nicolaus upped their price objective on shares of ON from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Raymond James reissued a "strong-buy" rating on shares of ON in a research report on Wednesday. Evercore ISI raised their price objective on ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Finally, Citigroup upgraded shares of ON from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ON presently has a consensus rating of "Buy" and an average price target of $62.45.

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.