Trexquant Investment LP Has $2.84 Million Stake in On Holding AG (NYSE:ONON)

Trexquant Investment LP decreased its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 66.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,780 shares of the company's stock after selling 104,705 shares during the period. Trexquant Investment LP's holdings in ON were worth $2,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ONON. Apollon Wealth Management LLC raised its stake in shares of ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock valued at $877,000 after purchasing an additional 6,808 shares during the period. RB Capital Management LLC grew its holdings in shares of ON by 214.8% during the third quarter. RB Capital Management LLC now owns 22,426 shares of the company's stock worth $1,125,000 after buying an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock valued at $76,213,000 after buying an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in ON in the 4th quarter valued at approximately $30,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company's stock valued at $4,195,000 after acquiring an additional 71,436 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Performance

Shares of NYSE ONON traded up $0.49 during trading hours on Friday, reaching $43.51. 4,352,427 shares of the stock were exchanged, compared to its average volume of 4,670,422. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 101.19, a P/E/G ratio of 1.02 and a beta of 2.32. The stock's fifty day simple moving average is $47.73 and its 200 day simple moving average is $52.01. On Holding AG has a 52 week low of $29.84 and a 52 week high of $64.05.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of ON from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Telsey Advisory Group reiterated an "outperform" rating and issued a $67.00 price target on shares of ON in a research note on Tuesday, April 1st. The Goldman Sachs Group downgraded shares of ON from a "buy" rating to a "neutral" rating and set a $57.00 price objective for the company. in a research note on Wednesday, February 12th. Citigroup assumed coverage on ON in a research report on Wednesday, December 18th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, UBS Group increased their price target on ON from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

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.