Allspring Global Investments Holdings LLC Grows Stock Position in On Holding AG (NYSE:ONON)

Allspring Global Investments Holdings LLC raised its position in shares of On Holding AG (NYSE:ONON - Free Report) by 34.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376,850 shares of the company's stock after acquiring an additional 349,789 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of ON worth $76,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock worth $112,259,000 after acquiring an additional 440,685 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock worth $36,083,000 after acquiring an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock worth $29,834,000 after acquiring an additional 459,157 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of ON by 4.3% during the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company's stock worth $21,040,000 after acquiring an additional 17,362 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of ON by 23.4% during the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company's stock worth $12,875,000 after acquiring an additional 48,600 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

ONON stock traded down $0.43 during trading on Friday, reaching $51.94. 5,120,818 shares of the company traded hands, compared to its average volume of 3,344,015. On Holding AG has a 12 month low of $27.37 and a 12 month high of $64.05. The business has a 50 day simple moving average of $56.89 and a 200 day simple moving average of $51.65. The company has a market capitalization of $32.70 billion, a price-to-earnings ratio of 120.79, a price-to-earnings-growth ratio of 1.20 and a beta of 2.30.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial increased their price target on ON from $58.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price target on shares of ON in a report on Wednesday, January 15th. TD Cowen increased their price target on ON from $65.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Raymond James upgraded ON from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $58.00 to $63.00 in a report on Thursday, November 21st. Finally, Stifel Nicolaus upped their price objective on ON from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.73.

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, 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.