Next Century Growth Investors LLC Lowers Position in On Holding AG (NYSE:ONON)

Next Century Growth Investors LLC lessened its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,169 shares of the company's stock after selling 10,800 shares during the quarter. Next Century Growth Investors LLC's holdings in ON were worth $7,239,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Bridge LLC acquired a new stake in shares of ON in the fourth quarter valued at $43,000. Bernard Wealth Management Corp. acquired a new stake in ON in the 4th quarter valued at about $44,000. Arcadia Investment Management Corp MI purchased a new position in shares of ON in the 4th quarter valued at about $53,000. VisionPoint Advisory Group LLC purchased a new position in shares of ON in the 4th quarter valued at about $65,000. Finally, Blue Trust Inc. grew its position 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 in the last quarter. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

ON stock traded down $0.52 during mid-day trading on Tuesday, reaching $42.65. 3,844,504 shares of the company were exchanged, compared to its average volume of 4,647,795. The firm's 50-day simple moving average is $47.41 and its two-hundred day simple moving average is $51.96. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The firm has a market cap of $26.85 billion, a PE ratio of 99.19, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

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Analysts Set New Price Targets

ONON has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of ON from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on shares of ON from $66.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. KeyCorp reissued an "overweight" rating and issued a $68.00 target price on shares of ON in a report on Wednesday, March 5th. Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They set a "neutral" rating and a $65.00 price target for the company. Finally, Jefferies Financial Group started coverage on ON in a research note on Tuesday, April 1st. They set a "hold" rating and a $44.00 target price for the company. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.