ExodusPoint Capital Management LP Purchases Shares of 185,791 On Holding AG (NYSE:ONON)

ExodusPoint Capital Management LP bought a new position in shares of On Holding AG (NYSE:ONON - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 185,791 shares of the company's stock, valued at approximately $10,176,000.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its position in ON by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock worth $951,808,000 after purchasing an additional 471,805 shares during the period. Norges Bank acquired a new stake in shares of ON in the fourth quarter valued at about $164,574,000. Jennison Associates LLC raised its holdings in shares of ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company's stock valued at $112,259,000 after buying an additional 440,685 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in ON during the 4th quarter worth approximately $78,799,000. Finally, Allspring Global Investments Holdings LLC boosted 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 period. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Down 6.9 %

Shares of NYSE:ONON traded down $3.12 on Thursday, reaching $41.90. The company had a trading volume of 2,801,046 shares, compared to its average volume of 4,640,366. The stock has a market capitalization of $26.38 billion, a P/E ratio of 97.31, a P/E/G ratio of 1.02 and a beta of 2.32. The stock has a 50-day moving average price of $48.34 and a 200 day moving average price of $52.11. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ONON shares. UBS Group boosted their target price on shares of ON from $65.00 to $73.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. TD Cowen upped their price objective on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. HSBC raised ON from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. Stifel Nicolaus cut their target price on ON from $66.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Williams Trading lifted their price target on shares of ON from $60.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and an average target price of $60.05.

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.