On Holding AG (NYSE:ONON) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. raised its holdings in On Holding AG (NYSE:ONON - Free Report) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,378,277 shares of the company's stock after buying an additional 471,805 shares during the period. Alliancebernstein L.P. owned approximately 2.76% of ON worth $951,808,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ONON. Axiom Investors LLC DE purchased a new position in ON in the fourth quarter valued at $39,320,000. CIBC Private Wealth Group LLC grew its position in shares of ON by 9.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 15,241 shares of the company's stock worth $846,000 after buying an additional 1,375 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ON during the fourth quarter worth approximately $78,799,000. Orion Portfolio Solutions LLC raised its holdings in ON by 5.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 31,645 shares of the company's stock valued at $1,733,000 after acquiring an additional 1,747 shares in the last quarter. Finally, Norges Bank purchased a new position in ON in the fourth quarter worth approximately $164,574,000. Institutional investors and hedge funds own 36.39% of the company's stock.

ON Price Performance

Shares of ONON stock traded down $7.30 during midday trading on Thursday, hitting $37.62. The company had a trading volume of 16,864,464 shares, compared to its average volume of 4,454,804. The stock has a market cap of $23.69 billion, a price-to-earnings ratio of 87.74, a PEG ratio of 1.02 and a beta of 2.35. The company's 50 day simple moving average is $51.23 and its 200 day simple moving average is $52.58. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05.

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Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday. They issued a "hold" rating and a $44.00 price objective on the stock. Morgan Stanley increased their target price on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group downgraded ON from a "buy" rating to a "neutral" rating and set a $57.00 price target for the company. in a report on Wednesday, February 12th. Stifel Nicolaus raised their target price on ON from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, Barclays boosted their target price on ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.45.

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, 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.