SPX Gestao de Recursos Ltda Purchases Shares of 100,000 On Holding AG (NYSE:ONON)

SPX Gestao de Recursos Ltda purchased a new position in On Holding AG (NYSE:ONON - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company's stock, valued at approximately $5,477,000.

Several other large investors also recently added to or reduced their stakes in ONON. Independent Advisor Alliance bought a new position in ON in the 4th quarter valued at $1,143,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ON by 472.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,800 shares of the company's stock valued at $2,508,000 after acquiring an additional 37,804 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in ON by 14.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock worth $450,000 after acquiring an additional 1,010 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in ON in the fourth quarter worth approximately $4,425,000. Finally, E Fund Management Co. Ltd. boosted its position in ON by 28.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 19,193 shares of the company's stock valued at $1,051,000 after acquiring an additional 4,195 shares in the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Down 2.8 %

NYSE:ONON traded down $1.31 during midday trading on Thursday, reaching $45.42. The company had a trading volume of 1,622,504 shares, compared to its average volume of 4,398,735. The stock's fifty day simple moving average is $54.32 and its 200-day simple moving average is $52.62. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 106.19, a PEG ratio of 1.02 and a beta of 2.35.

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Analyst Upgrades and Downgrades

ONON has been the subject of several recent research reports. Bank of America assumed coverage on ON in a research report on Tuesday, January 7th. They issued a "buy" rating and a $73.00 price target for the company. The Goldman Sachs Group lowered shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective for the company. in a research report on Wednesday, February 12th. BTIG Research raised shares of ON from a "neutral" rating to a "buy" rating and set a $64.00 target price on the stock in a research report on Wednesday, November 13th. Barclays raised their price target on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, KeyCorp reissued an "overweight" rating and set a $68.00 price objective on shares of ON in a report on Wednesday, March 5th. Two 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $61.90.

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.