On Holding AG (NYSE:ONON) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in On Holding AG (NYSE:ONON - Free Report) by 96.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,784 shares of the company's stock after acquiring an additional 49,995 shares during the period. Principal Financial Group Inc.'s holdings in ON were worth $5,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company's stock worth $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company's stock worth $28,000 after buying an additional 400 shares in the last quarter. Quarry LP purchased a new stake in ON during the second quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new position in ON during the third quarter worth about $50,000. Finally, nVerses Capital LLC acquired a new position in ON during the third quarter worth about $65,000. Hedge funds and other institutional investors own 33.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ONON shares. TD Cowen lifted their target price on shares of ON from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Hsbc Global Res upgraded shares of ON to a "hold" rating in a research report on Thursday, September 5th. Barclays boosted their price objective on shares of ON from $47.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research report on Wednesday, November 13th. Finally, Williams Trading raised shares of ON from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.33.

ON Trading Up 0.7 %

Shares of ONON stock opened at $53.75 on Thursday. The company has a market capitalization of $33.84 billion, a PE ratio of 125.00 and a beta of 2.25. The firm has a fifty day simple moving average of $50.01 and a 200-day simple moving average of $43.68. On Holding AG has a twelve month low of $25.78 and a twelve month high of $56.44.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.