Artisan Partners Limited Partnership Sells 352,714 Shares of On Holding AG (NYSE:ONON)

Artisan Partners Limited Partnership cut its position in On Holding AG (NYSE:ONON) by 42.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,098 shares of the company’s stock after selling 352,714 shares during the quarter. Artisan Partners Limited Partnership owned 0.08% of ON worth $26,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ONON. Jennison Associates LLC grew its stake in shares of ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after purchasing an additional 440,685 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in ON by 34.1% during the 4th 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. Lord Abbett & CO. LLC grew its position in shares of 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 buying an additional 459,157 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ON in the fourth quarter valued at about $28,575,000. Finally, Sei Investments Co. raised its position in shares of ON by 78.0% during the fourth quarter. Sei Investments Co. now owns 490,503 shares of the company’s stock worth $26,865,000 after acquiring an additional 214,909 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Trading Down 4.1 %

Shares of ON stock opened at $44.10 on Friday. The stock has a fifty day simple moving average of $52.13 and a 200 day simple moving average of $52.62. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05. The company has a market capitalization of $27.76 billion, a P/E ratio of 102.55, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35.

Analyst Upgrades and Downgrades

Several analysts recently commented on ONON shares. Williams Trading upped 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. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of ON in a research report on Tuesday, March 4th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday, March 4th. Bank of America started 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. Finally, Hsbc Global Res raised ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ON has an average rating of “Buy” and an average target price of $61.90.

About ON

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.