Legacy Bridge LLC Invests $43,000 in On Holding AG (NYSE:ONON)

Legacy Bridge LLC acquired a new stake in shares of On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 780 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONON. Cerity Partners LLC boosted its stake in shares of ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC increased its position in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after acquiring an additional 459,157 shares during the period. Wasatch Advisors LP increased its position in ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock valued at $21,040,000 after acquiring an additional 17,362 shares during the period. Raymond James & Associates lifted its holdings in shares of ON by 23.4% during the third quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock worth $12,875,000 after purchasing an additional 48,600 shares during the period. Finally, State Street Corp grew its stake in shares of ON by 1.8% in the third quarter. State Street Corp now owns 228,847 shares of the company’s stock worth $11,477,000 after purchasing an additional 4,152 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $59.84 on Tuesday. The firm’s fifty day moving average is $56.85 and its two-hundred day moving average is $49.85. On Holding AG has a 52-week low of $26.10 and a 52-week high of $60.99. The company has a market cap of $37.68 billion, a P/E ratio of 139.18, a P/E/G ratio of 1.19 and a beta of 2.30.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ONON shares. Robert W. Baird raised their target price on ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. TD Cowen upped their target price on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. UBS Group restated a “buy” rating and set a $63.00 price target on shares of ON in a report on Friday, December 27th. Piper Sandler upped their price objective on shares of ON from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.