Scientech Research LLC decreased its holdings in On Holding AG (NYSE:ONON - Free Report) by 43.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,685 shares of the company's stock after selling 15,936 shares during the period. Scientech Research LLC's holdings in ON were worth $1,133,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of ON during the fourth quarter worth about $164,574,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ON in the 4th quarter valued at approximately $78,799,000. Axiom Investors LLC DE purchased a new stake in ON in the fourth quarter valued at $39,320,000. BNP Paribas Financial Markets purchased a new stake in ON in the 4th quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of ON in the 4th quarter valued at approximately $28,575,000. Hedge funds and other institutional investors own 36.39% of the company's stock.
ON Stock Performance
Shares of NYSE:ONON traded down $0.49 during midday trading on Wednesday, hitting $59.19. 5,536,894 shares of the stock were exchanged, compared to its average volume of 4,626,184. The business's fifty day simple moving average is $46.69 and its two-hundred day simple moving average is $51.89. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05. The company has a market capitalization of $37.27 billion, a PE ratio of 137.64, a P/E/G ratio of 1.02 and a beta of 2.30.
Wall Street Analysts Forecast Growth
ONON has been the subject of several recent research reports. Cowen reissued a "buy" rating on shares of ON in a research note on Wednesday, May 14th. Morgan Stanley dropped their price objective on ON from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. UBS Group set a $75.00 price target on shares of ON in a research note on Wednesday, May 14th. Piper Sandler reaffirmed an "overweight" rating on shares of ON in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 target price on the stock. in a report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $62.45.
Read Our Latest Research Report on ONON
ON Company 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.
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