Shelton Wealth Management LLC Decreases Holdings in On Holding AG (NYSE:ONON)

Shelton Wealth Management LLC decreased its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,684 shares of the company's stock after selling 6,902 shares during the quarter. Shelton Wealth Management LLC's holdings in ON were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. 1832 Asset Management L.P. grew its position in ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company's stock valued at $93,500,000 after purchasing an additional 2,406,200 shares during the period. Renaissance Technologies LLC bought a new position in shares of ON in the second quarter valued at $27,975,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of ON by 100.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company's stock worth $49,716,000 after acquiring an additional 642,894 shares during the last quarter. Cerity Partners LLC lifted its position in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company's stock valued at $36,083,000 after acquiring an additional 471,323 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company's stock valued at $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Institutional investors own 36.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup assumed coverage on ON in a research note on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 price objective for the company. Telsey Advisory Group restated an "outperform" rating and set a $67.00 price objective on shares of ON in a research note on Wednesday. Robert W. Baird raised their price target on shares of ON from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. BTIG Research upgraded shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Williams Trading raised shares of ON from a "hold" rating to a "buy" rating and lifted their target price for the stock 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, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.50.

ON Price Performance

NYSE ONON traded up $1.69 during trading on Friday, reaching $58.02. The company's stock had a trading volume of 5,054,824 shares, compared to its average volume of 2,009,646. The stock has a market capitalization of $36.53 billion, a PE ratio of 134.94, a P/E/G ratio of 1.16 and a beta of 2.30. The firm has a fifty day moving average of $56.00 and a 200 day moving average of $48.82. On Holding AG has a one year low of $26.03 and a one year high of $60.12.

ON 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.