Axxcess Wealth Management LLC Purchases Shares of 6,766 On Holding AG (NYSE:ONON)

Axxcess Wealth Management LLC bought a new stake in On Holding AG (NYSE:ONON - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,766 shares of the company's stock, valued at approximately $371,000.

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

ON Stock Performance

Shares of ON stock traded down $1.94 during trading hours on Wednesday, reaching $46.04. 3,880,623 shares of the company were exchanged, compared to its average volume of 4,326,749. The firm has a market cap of $28.99 billion, a PE ratio of 107.06, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05. The stock's fifty day moving average is $52.78 and its 200 day moving average is $52.71.

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Analysts Set New Price Targets

ONON has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on ON from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. The Goldman Sachs Group lowered 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. Barclays raised their price target on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Morgan Stanley upped their price objective on ON from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, TD Cowen lifted their target price on ON from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $61.90.

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.