On Holding AG (NYSE:ONON) Shares Acquired by Woodline Partners LP

Woodline Partners LP lifted its position in shares of On Holding AG (NYSE:ONON) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 515,419 shares of the company’s stock after buying an additional 19,124 shares during the quarter. Woodline Partners LP’s holdings in ON were worth $28,229,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its stake in shares of ON by 74.0% during the 4th 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 period. Allspring Global Investments Holdings LLC lifted its position in ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new stake in ON in the 4th quarter worth about $30,000. BNP Paribas Financial Markets purchased a new stake in ON in the 4th quarter valued at about $39,119,000. Finally, Raymond James Financial Inc. purchased a new stake in ON in the 4th quarter valued at about $28,575,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Down 0.6%

ONON opened at $59.62 on Wednesday. The firm has a market capitalization of $37.54 billion, a P/E ratio of 138.65, a P/E/G ratio of 1.02 and a beta of 2.30. The firm’s 50 day moving average is $46.69 and its 200-day moving average is $51.89. On Holding AG has a 52-week low of $34.59 and a 52-week high of $64.05.

Analyst Ratings Changes

ONON has been the topic of several recent analyst reports. Cowen reiterated a “buy” rating on shares of ON in a report on Wednesday, May 14th. Barclays set a $68.00 price target on shares of ON in a research note on Wednesday, May 14th. HSBC upgraded ON from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Tuesday, March 11th. Williams Trading lifted their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Raymond James reissued a “strong-buy” rating on shares of ON in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $62.45.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.