On Holding AG (NYSE:ONON) Shares Bought by Prudential PLC

Prudential PLC lifted its stake in On Holding AG (NYSE:ONON - Free Report) by 97.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,961 shares of the company's stock after buying an additional 14,770 shares during the quarter. Prudential PLC's holdings in ON were worth $1,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONON. ExodusPoint Capital Management LP purchased a new position in ON during the 4th quarter valued at approximately $10,176,000. National Bank of Canada FI grew its holdings in shares of ON by 4.4% in the fourth quarter. National Bank of Canada FI now owns 146,738 shares of the company's stock valued at $8,046,000 after purchasing an additional 6,137 shares in the last quarter. Franklin Resources Inc. raised its stake in ON by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 1,017,842 shares of the company's stock valued at $55,747,000 after purchasing an additional 26,595 shares in the last quarter. Alliancebernstein L.P. lifted its position in ON by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company's stock valued at $951,808,000 after purchasing an additional 471,805 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of ON in the 4th quarter worth about $39,320,000. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ONON. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of ON in a research note on Tuesday, April 1st. Bank of America started coverage on ON in a research report on Tuesday, January 7th. They set a "buy" rating and a $73.00 target price for the company. Stifel Nicolaus cut their price target on shares of ON from $66.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday. Needham & Company LLC decreased their price objective on shares of ON from $64.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, HSBC upgraded shares of ON from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.00.

ON Trading Down 0.7 %

Shares of NYSE:ONON traded down $0.30 on Friday, hitting $42.72. 1,550,750 shares of the company were exchanged, compared to its average volume of 4,649,685. The stock's 50 day moving average price is $48.03 and its 200 day moving average price is $52.06. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05. The firm has a market capitalization of $26.90 billion, a P/E ratio of 99.37, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32.

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.