Axiom Investors LLC DE Takes Position in On Holding AG (NYSE:ONON)

Axiom Investors LLC DE bought a new position in On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 717,910 shares of the company’s stock, valued at approximately $39,320,000. Axiom Investors LLC DE owned approximately 0.11% of ON as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONON. CIBC Private Wealth Group LLC boosted its holdings in shares of ON by 9.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 15,241 shares of the company’s stock valued at $846,000 after purchasing an additional 1,375 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in ON during the 4th quarter valued at approximately $78,799,000. Orion Portfolio Solutions LLC increased its stake in ON by 5.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 31,645 shares of the company’s stock worth $1,733,000 after acquiring an additional 1,747 shares during the last quarter. Norges Bank bought a new stake in ON in the 4th quarter worth approximately $164,574,000. Finally, Financial Engines Advisors L.L.C. raised its holdings in shares of ON by 3.1% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 56,880 shares of the company’s stock worth $3,115,000 after acquiring an additional 1,690 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ONON. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a research report on Tuesday, March 4th. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Wednesday, February 12th. Bank of America began coverage on shares of ON in a report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target for the company. Barclays upped their price objective on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, UBS Group lifted their target price on ON from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ON presently has a consensus rating of “Buy” and an average price target of $61.90.

ON Stock Performance

Shares of ONON opened at $44.10 on Monday. The stock has a market capitalization of $27.76 billion, a PE ratio of 102.55, a PEG ratio of 1.02 and a beta of 2.35. The company has a 50 day moving average price of $52.13 and a 200-day moving average price of $52.67. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

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.