Vontobel Holding Ltd. Cuts Stock Holdings in On Holding AG (NYSE:ONON)

Vontobel Holding Ltd. reduced its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,614 shares of the company's stock after selling 9,348 shares during the quarter. Vontobel Holding Ltd.'s holdings in ON were worth $1,786,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. HMS Capital Management LLC acquired a new stake in shares of ON during the 4th quarter valued at about $315,000. Allspring Global Investments Holdings LLC lifted its position in shares of ON by 34.1% during 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 in the last quarter. Capital Advisors Inc. OK increased its holdings in ON by 3.2% in the 4th quarter. Capital Advisors Inc. OK now owns 6,386 shares of the company's stock worth $350,000 after acquiring an additional 200 shares in the last quarter. Stephens Inc. AR raised its position in ON by 1.3% during the fourth quarter. Stephens Inc. AR now owns 42,327 shares of the company's stock worth $2,318,000 after acquiring an additional 550 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of ON in the fourth quarter valued at about $927,000. Hedge funds and other institutional investors own 36.39% of the company's stock.

ON Stock Performance

Shares of NYSE ONON traded down $2.98 during trading on Friday, reaching $48.23. The stock had a trading volume of 6,438,252 shares, compared to its average volume of 3,854,274. The business's 50-day moving average price is $56.37 and its 200-day moving average price is $51.91. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The company has a market cap of $30.37 billion, a P/E ratio of 112.16, a PEG ratio of 1.04 and a beta of 2.30.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of ON from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC reissued a "buy" rating and issued a $64.00 price objective on shares of ON in a research note on Wednesday, January 15th. Citigroup initiated coverage on shares of ON in a report on Wednesday, December 18th. They set a "neutral" rating and a $65.00 target price for the company. Williams Trading raised shares of ON from a "hold" rating to a "buy" rating and upped their price objective for the company from $40.00 to $60.00 in a research note on Wednesday, November 13th. Finally, Barclays boosted their target price on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.73.

ON Company 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.