Tairen Capital Ltd Buys Shares of 170,000 On Holding AG (NYSE:ONON)

Tairen Capital Ltd bought a new stake in shares of On Holding AG (NYSE:ONON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 170,000 shares of the company’s stock, valued at approximately $9,311,000. ON comprises about 1.4% of Tairen Capital Ltd’s portfolio, making the stock its 21st biggest holding.

A number of other hedge funds have also made changes to their positions in the company. State of Wyoming increased its holdings in shares of ON by 239.4% in the fourth quarter. State of Wyoming now owns 6,899 shares of the company’s stock valued at $378,000 after purchasing an additional 4,866 shares during the last quarter. Snowden Capital Advisors LLC increased its holdings in shares of ON by 4.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 13,814 shares of the company’s stock valued at $757,000 after purchasing an additional 584 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of ON by 21.1% in the fourth quarter. Royal Bank of Canada now owns 388,095 shares of the company’s stock valued at $21,256,000 after purchasing an additional 67,566 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of ON in the fourth quarter valued at approximately $69,000. Finally, Quantedge Capital Pte Ltd acquired a new stake in shares of ON in the fourth quarter valued at approximately $4,732,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ONON shares. Robert W. Baird increased their price target on ON from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Needham & Company LLC increased their price target on ON from $55.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup raised ON from a “neutral” rating to a “buy” rating and cut their price target for the company from $65.00 to $60.00 in a report on Monday, April 28th. KeyCorp increased their price objective on ON from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lowered ON from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $61.73.

ON Trading Down 0.8%

NYSE:ONON opened at $59.79 on Friday. The firm has a market cap of $37.64 billion, a PE ratio of 139.04, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The stock has a fifty day moving average price of $46.16 and a 200 day moving average price of $51.72. On Holding AG has a 12-month low of $34.59 and a 12-month high of $64.05.

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