Fmr LLC Buys 462,738 Shares of On Holding AG (NYSE:ONON)

FMR LLC raised its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,875,965 shares of the company's stock after purchasing an additional 462,738 shares during the period. FMR LLC owned approximately 4.59% of ON worth $1,581,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Centiva Capital LP grew its stake in shares of ON by 16.5% in the 3rd quarter. Centiva Capital LP now owns 12,377 shares of the company's stock worth $621,000 after acquiring an additional 1,754 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in ON in the 3rd quarter worth about $453,000. Stifel Financial Corp increased its stake in ON by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 176,472 shares of the company's stock valued at $8,850,000 after buying an additional 8,892 shares during the last quarter. State Street Corp lifted its position in shares of 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 buying an additional 4,152 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in shares of ON in the third quarter valued at approximately $329,000. 36.39% of the stock is owned by institutional investors.

ON Stock Performance

ON stock traded up $0.49 during midday trading on Friday, hitting $43.51. 4,352,427 shares of the company's stock were exchanged, compared to its average volume of 4,670,422. The stock has a 50-day moving average price of $48.03 and a two-hundred day moving average price of $52.06. On Holding AG has a 52-week low of $29.84 and a 52-week high of $64.05. The company has a market cap of $27.40 billion, a P/E ratio of 101.19, a PEG ratio of 1.02 and a beta of 2.32.

Analyst Ratings Changes

ONON has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on ON from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday. Morgan Stanley boosted their price target on shares of ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a report on Tuesday, March 11th. Barclays boosted their target price on shares of ON from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. 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 report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

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.