Jump Financial LLC Sells 46,710 Shares of On Holding AG (NYSE:ONON)

Jump Financial LLC reduced its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 35.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,775 shares of the company's stock after selling 46,710 shares during the quarter. Jump Financial LLC's holdings in ON were worth $4,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Bridge LLC acquired a new stake in shares of ON in the 4th quarter valued at $43,000. Bernard Wealth Management Corp. bought a new stake in ON during the 4th quarter worth about $44,000. Arcadia Investment Management Corp MI acquired a new position in ON during the 4th quarter valued at about $53,000. VisionPoint Advisory Group LLC acquired a new stake in shares of ON during the 4th quarter worth approximately $65,000. Finally, Blue Trust Inc. raised its stake in shares of ON by 148.8% during the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company's stock worth $66,000 after buying an additional 787 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. KeyCorp reiterated an "overweight" rating and set a $68.00 target price on shares of ON in a research report on Wednesday, March 5th. Needham & Company LLC reduced their target price on ON from $64.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays upped their price target on ON from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price for the company. Finally, Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

ON Stock Performance

NYSE ONON traded up $0.75 during trading hours on Friday, hitting $42.50. 3,070,033 shares of the company traded hands, compared to its average volume of 4,657,458. The business's 50-day moving average is $46.28 and its 200-day moving average is $51.74. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of 98.83, a P/E/G ratio of 1.02 and a beta of 2.32. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05.

About ON

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.