Wasatch Advisors LP Has $20.48 Million Stock Position in On Holding AG (NYSE:ONON)

Wasatch Advisors LP cut its holdings in shares of On Holding AG (NYSE:ONON - Free Report) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,931 shares of the company's stock after selling 45,605 shares during the period. Wasatch Advisors LP owned about 0.06% of ON worth $20,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its stake in shares of ON by 74.0% in the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company's stock worth $877,000 after purchasing an additional 6,808 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company's stock worth $76,213,000 after purchasing an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in ON in the fourth quarter worth approximately $30,000. Principal Financial Group Inc. boosted its holdings in ON by 96.5% during the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company's stock valued at $5,104,000 after acquiring an additional 49,995 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of ON by 102.1% in the fourth quarter. New York State Common Retirement Fund now owns 221,820 shares of the company's stock valued at $12,149,000 after acquiring an additional 112,078 shares during the period. Institutional investors own 36.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ONON shares. Barclays lifted their target price on shares of ON from $63.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. TD Cowen lifted their target price on ON from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. UBS Group upped their target price on shares of ON from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Williams Trading boosted their price target on shares of ON from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Piper Sandler decreased their price objective on shares of ON from $62.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, ON currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

ON Stock Performance

Shares of NYSE:ONON traded up $0.75 during mid-day trading on Friday, hitting $42.50. The stock had a trading volume of 3,070,033 shares, compared to its average volume of 4,657,458. The company's 50 day moving average is $46.28 and its 200-day moving average is $51.74. The company has a market cap of $26.76 billion, a PE ratio of 98.83, a P/E/G ratio of 1.02 and a beta of 2.32. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05.

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.