Sands Capital Management LLC Takes $240.18 Million Position in On Holding AG $ONON

Sands Capital Management LLC purchased a new stake in On Holding AG (NYSE:ONON) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,614,347 shares of the company’s stock, valued at approximately $240,177,000. Sands Capital Management LLC owned about 0.73% of ON as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONON. Norges Bank acquired a new stake in shares of ON in the second quarter valued at approximately $138,641,000. Alliancebernstein L.P. boosted its position in ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after buying an additional 2,416,534 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ON in the 1st quarter valued at $102,850,000. Geode Capital Management LLC acquired a new stake in shares of ON in the 2nd quarter valued at $70,152,000. Finally, American Century Companies Inc. raised its position in shares of ON by 29.4% during the second quarter. American Century Companies Inc. now owns 3,692,568 shares of the company’s stock worth $192,198,000 after acquiring an additional 839,754 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen lifted their price objective on ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Truist Financial reduced their target price on shares of ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Barclays dropped their price target on shares of ON from $69.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Morgan Stanley increased their price objective on shares of ON from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of ON in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.38.

ON Stock Up 0.9%

Shares of NYSE:ONON opened at $45.08 on Wednesday. The company has a 50 day moving average price of $41.30 and a two-hundred day moving average price of $47.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.05 and a current ratio of 2.55. The company has a market capitalization of $28.31 billion, a PE ratio of 58.54, a PEG ratio of 2.62 and a beta of 2.16. On Holding AG has a 52 week low of $34.38 and a 52 week high of $64.05.

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