Nuveen Asset Management LLC Sells 100,404 Shares of On Holding AG (NYSE:ONON)

Nuveen Asset Management LLC lowered its position in On Holding AG (NYSE:ONON - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,515,647 shares of the company's stock after selling 100,404 shares during the period. Nuveen Asset Management LLC owned 0.56% of ON worth $192,552,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of ON during the 4th quarter valued at $164,574,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of ON during the 4th quarter worth about $78,799,000. Axiom Investors LLC DE acquired a new position in shares of ON during the 4th quarter valued at about $39,320,000. BNP Paribas Financial Markets acquired a new position in shares of ON during the 4th quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. acquired a new stake in ON in the 4th quarter worth approximately $28,575,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Up 0.5%

NYSE:ONON traded up $0.30 during trading hours on Wednesday, hitting $59.97. 1,499,320 shares of the stock were exchanged, compared to its average volume of 4,610,442. The company has a market capitalization of $37.76 billion, a P/E ratio of 139.48, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The company's 50 day moving average is $46.69 and its two-hundred day moving average is $51.89. On Holding AG has a twelve month low of $34.59 and a twelve month high of $64.05.

Analyst Ratings Changes

Several research firms recently issued reports on ONON. Evercore ISI upped their price objective on shares of ON from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. KeyCorp upped their price target on shares of ON from $60.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating on shares of ON in a research note on Tuesday, May 13th. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, UBS Group set a $75.00 price target on shares of ON in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $62.45.

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