China Universal Asset Management Co. Ltd. Has $3.02 Million Stock Position in On Holding AG (NYSE:ONON)

China Universal Asset Management Co. Ltd. reduced its stake in On Holding AG (NYSE:ONON - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,081 shares of the company's stock after selling 6,038 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in ON were worth $3,017,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cerity Partners LLC grew 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 purchasing an additional 471,323 shares during the period. 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 purchasing an additional 459,157 shares during the period. Wasatch Advisors LP lifted its stake in 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. Raymond James & Associates lifted its stake in 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. Finally, State Street Corp lifted its stake in ON by 1.8% during the 3rd quarter. State Street Corp now owns 228,847 shares of the company's stock worth $11,477,000 after acquiring an additional 4,152 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ONON. Barclays increased their target price on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. Truist Financial increased their target price on ON from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. KeyCorp increased their target price on ON from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 target price on shares of ON in a research note on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $64.00 price target on shares of ON in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.73.

ON Stock Performance

Shares of NYSE:ONON traded up $0.67 during trading on Wednesday, hitting $59.01. The company's stock had a trading volume of 1,824,753 shares, compared to its average volume of 3,327,887. On Holding AG has a fifty-two week low of $27.02 and a fifty-two week high of $64.05. The stock's 50-day moving average price is $57.40 and its two-hundred day moving average price is $50.77. The company has a market capitalization of $37.15 billion, a PE ratio of 137.11, a PEG ratio of 1.21 and a beta of 2.30.

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.