Artisan Partners Limited Partnership Sells 352,714 Shares of On Holding AG (NYSE:ONON)

Artisan Partners Limited Partnership lowered its position in shares of On Holding AG (NYSE:ONON - Free Report) by 42.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 480,098 shares of the company's stock after selling 352,714 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.08% of ON worth $26,295,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Apollon Wealth Management LLC grew its stake in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC increased its stake in shares of ON by 214.8% in the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock valued at $1,125,000 after acquiring an additional 15,303 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of ON in the 4th quarter valued at approximately $30,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after purchasing an additional 71,436 shares during the period. Institutional investors and hedge funds own 36.39% of the company's stock.

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ON Price Performance

NYSE ONON traded down $0.87 on Tuesday, hitting $43.05. 4,490,899 shares of the stock were exchanged, compared to its average volume of 4,376,331. The business's fifty day moving average is $51.85 and its 200 day moving average is $52.68. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05. The company has a market capitalization of $27.11 billion, a PE ratio of 100.35, a P/E/G ratio of 1.02 and a beta of 2.35.

Analyst Ratings Changes

A number of research firms recently commented on ONON. Needham & Company LLC lowered their price objective on shares of ON from $64.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday. Williams Trading raised their price target on ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. UBS Group lifted their price objective on ON from $65.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Morgan Stanley increased their target price on ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, KeyCorp reiterated an "overweight" rating and issued a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.45.

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, 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.