Laurion Capital Management LP Sells 46,627 Shares of On Holding AG (NYSE:ONON)

Laurion Capital Management LP reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 78.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the company's stock after selling 46,627 shares during the period. Laurion Capital Management LP's holdings in ON were worth $712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. J. Goldman & Co LP acquired a new position in shares of ON in the fourth quarter valued at about $6,013,000. Focus Partners Wealth grew its stake in shares of ON by 20.0% in the fourth quarter. Focus Partners Wealth now owns 27,907 shares of the company's stock valued at $1,528,000 after acquiring an additional 4,657 shares in the last quarter. Fullerton Fund Management Co Ltd. acquired a new position in shares of ON in the fourth quarter valued at about $16,005,000. Cresset Asset Management LLC grew its stake in shares of ON by 29.5% in the fourth quarter. Cresset Asset Management LLC now owns 8,702 shares of the company's stock valued at $477,000 after acquiring an additional 1,983 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of ON by 24.1% in the fourth quarter. Cetera Investment Advisers now owns 47,186 shares of the company's stock valued at $2,584,000 after acquiring an additional 9,176 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONON has been the topic of several research reports. Needham & Company LLC upped their price target on shares of ON from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Wednesday. Jefferies Financial Group began coverage on shares of ON in a research note on Tuesday, April 1st. They set a "hold" rating and a $44.00 price objective on the stock. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective on the stock. in a research note on Wednesday, February 12th. Truist Financial increased their price objective on shares of ON from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Williams Trading increased their price objective on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Two 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 company. Based on data from MarketBeat.com, ON presently has an average rating of "Buy" and an average target price of $61.73.

ON Price Performance

NYSE ONON traded down $0.47 during trading hours on Friday, reaching $59.79. The company's stock had a trading volume of 6,104,026 shares, compared to its average volume of 4,626,868. The firm has a fifty day simple moving average of $46.16 and a 200-day simple moving average of $51.72. The stock has a market cap of $37.64 billion, a P/E ratio of 139.04, a P/E/G ratio of 1.02 and a beta of 2.30. On Holding AG has a 52 week low of $34.59 and a 52 week high of $64.05.

ON Company 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.