SBI Securities Co. Ltd. Purchases New Position in On Holding AG (NYSE:ONON)

SBI Securities Co. Ltd. purchased a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,752 shares of the company’s stock, valued at approximately $260,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC grew 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 acquiring an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of ON by 338.3% during the third 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 in the last quarter. Jennison Associates LLC grew its stake in shares of ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after acquiring an additional 440,685 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of ON by 34.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after acquiring an additional 349,789 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of ON during the third quarter valued at about $10,263,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Stock Up 3.9 %

Shares of ONON stock opened at $52.62 on Thursday. The business has a 50 day moving average of $55.29 and a two-hundred day moving average of $52.50. The company has a market cap of $33.13 billion, a P/E ratio of 122.37, a PEG ratio of 1.02 and a beta of 2.30. On Holding AG has a 52 week low of $27.37 and a 52 week high of $64.05.

Analyst Ratings Changes

Several brokerages have recently weighed in on ONON. Morgan Stanley raised their target price on ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird raised their target price on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of ON in a research report on Tuesday. Finally, Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target on the stock. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ON has a consensus rating of “Moderate Buy” and an average target price of $60.36.

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.