Jennison Associates LLC Purchases 440,685 Shares of On Holding AG (NYSE:ONON)

Jennison Associates LLC increased its position in shares of On Holding AG (NYSE:ONON - Free Report) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,049,644 shares of the company's stock after acquiring an additional 440,685 shares during the quarter. Jennison Associates LLC owned about 0.33% of ON worth $112,259,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ONON. RB Capital Management LLC lifted its position in ON by 214.8% during the 3rd 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 period. Y Intercept Hong Kong Ltd lifted its holdings in ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after buying an additional 71,436 shares during the period. Forte Capital LLC ADV bought a new position in ON in the third quarter valued at approximately $742,000. Harvest Fund Management Co. Ltd acquired a new stake in ON during the 3rd quarter worth $658,000. Finally, Principal Financial Group Inc. raised its position in shares of ON by 96.5% during the 3rd 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 during the last quarter. Institutional investors own 36.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ONON shares. Citigroup initiated coverage on ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price target on the stock. UBS Group restated a "buy" rating and set a $63.00 target price on shares of ON in a report on Friday, December 27th. BTIG Research upgraded shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price target on the stock in a research report on Wednesday, November 13th. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their target price on shares of ON from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $59.73.

ON Stock Down 5.7 %

ONON traded down $3.42 during trading hours on Friday, hitting $56.30. 4,643,332 shares of the company's stock were exchanged, compared to its average volume of 3,393,421. The stock's 50-day moving average is $57.46 and its two-hundred day moving average is $50.89. On Holding AG has a 1-year low of $27.37 and a 1-year high of $64.05. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of 130.93, a PEG ratio of 1.21 and a beta of 2.30.

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.