3,004,817 Shares in On Holding AG (NYSE:ONON) Purchased by Norges Bank

Norges Bank bought a new position in On Holding AG (NYSE:ONON - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,004,817 shares of the company's stock, valued at approximately $164,574,000. Norges Bank owned approximately 0.48% of ON at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ONON. Financial Engines Advisors L.L.C. raised its position in shares of ON by 3.1% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 56,880 shares of the company's stock worth $3,115,000 after purchasing an additional 1,690 shares during the period. Keystone Investors PTE Ltd. raised its holdings in ON by 0.8% during the 4th quarter. Keystone Investors PTE Ltd. now owns 29,918 shares of the company's stock worth $1,639,000 after buying an additional 228 shares during the period. Riposte Capital LLC purchased a new stake in ON during the fourth quarter valued at about $6,846,000. LPL Financial LLC lifted its stake in ON by 3.8% during the fourth quarter. LPL Financial LLC now owns 441,922 shares of the company's stock valued at $24,204,000 after buying an additional 16,129 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new position in shares of ON in the fourth quarter worth about $1,108,000. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Performance

Shares of ONON traded up $1.91 during mid-day trading on Friday, hitting $39.56. The company's stock had a trading volume of 20,421,911 shares, compared to its average volume of 4,526,547. The stock's 50-day moving average is $50.36 and its two-hundred day moving average is $52.40. The firm has a market capitalization of $24.91 billion, a PE ratio of 92.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. On Holding AG has a one year low of $29.84 and a one year high of $64.05.

Analysts Set New Price Targets

Several equities research analysts recently commented on ONON shares. HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 price target for the company in a research report on Tuesday, March 11th. Needham & Company LLC decreased their target price on ON from $64.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday. KeyCorp reissued an "overweight" rating and set a $68.00 price target on shares of ON in a research report on Wednesday, March 5th. Hsbc Global Res upgraded ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Bank of America initiated coverage on ON in a report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 target price on the stock. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ON presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.45.

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.