Envestnet Asset Management Inc. Buys 10,992 Shares of On Holding AG (NYSE:ONON)

Envestnet Asset Management Inc. raised its position in shares of On Holding AG (NYSE:ONON - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,654 shares of the company's stock after purchasing an additional 10,992 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of ON worth $20,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its position in ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of ON in the fourth quarter worth $30,000. Principal Financial Group Inc. increased its holdings in shares of ON by 96.5% during the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock valued at $5,104,000 after acquiring an additional 49,995 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in ON by 54.9% in the 3rd quarter. MML Investors Services LLC now owns 43,200 shares of the company's stock worth $2,166,000 after purchasing an additional 15,313 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

Shares of ONON stock traded up $0.75 during trading hours on Friday, hitting $42.50. The stock had a trading volume of 3,070,033 shares, compared to its average volume of 4,650,840. The stock's 50-day moving average price is $46.52 and its two-hundred day moving average price is $51.77. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of 98.83, a PEG ratio of 1.02 and a beta of 2.32.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ONON shares. TD Cowen increased their price target on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley boosted their price target on ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of ON in a research note on Tuesday, April 1st. Piper Sandler cut their target price on shares of ON from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, UBS Group raised their price target on ON from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

ON Company 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.