Axiom Investors LLC DE Acquires Shares of 717,910 On Holding AG (NYSE:ONON)

Axiom Investors LLC DE bought a new position in On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 717,910 shares of the company's stock, valued at approximately $39,320,000. Axiom Investors LLC DE owned about 0.11% of ON at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ONON. Norges Bank purchased a new stake in shares of ON in the 4th quarter valued at $164,574,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of ON in the fourth quarter valued at about $78,799,000. Raymond James Financial Inc. bought a new stake in ON during the 4th quarter valued at approximately $28,575,000. Lord Abbett & CO. LLC grew 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 during the period. Finally, Jennison Associates LLC raised its position in shares of ON by 27.4% in 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. Hedge funds and other institutional investors own 36.39% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ONON. UBS Group increased their price objective on ON from $65.00 to $73.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Telsey Advisory Group restated an "outperform" rating and issued a $67.00 price objective on shares of ON in a report on Tuesday. Citigroup began coverage on ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price target on the stock. Barclays upped their price target on ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, TD Cowen boosted their target price on ON from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.45.

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ON Stock Performance

Shares of ON stock traded up $3.58 on Friday, hitting $41.23. 12,267,704 shares of the company traded hands, compared to its average volume of 4,499,056. The stock has a market capitalization of $25.96 billion, a P/E ratio of 95.63, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The business has a 50-day simple moving average of $50.77 and a 200 day simple moving average of $52.48. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05.

About ON

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.