Allworth Financial LP Purchases 1,446 Shares of On Holding AG (NYSE:ONON)

Allworth Financial LP increased its position in shares of On Holding AG (NYSE:ONON) by 1,446.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,546 shares of the company’s stock after acquiring an additional 1,446 shares during the quarter. Allworth Financial LP’s holdings in ON were worth $91,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC lifted 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 worth $36,083,000 after buying an additional 471,323 shares during the period. Lord Abbett & CO. LLC grew its stake in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after purchasing an additional 459,157 shares during the last quarter. Jennison Associates LLC raised 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 increased its holdings in ON by 34.1% in 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. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of ON in the 3rd quarter valued at $10,263,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Price Performance

ON stock opened at $48.70 on Tuesday. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of 113.26, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The firm has a 50 day simple moving average of $56.18 and a 200-day simple moving average of $52.18. On Holding AG has a 1-year low of $27.37 and a 1-year high of $64.05.

Wall Street Analyst Weigh In

ONON has been the subject of a number of research reports. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of ON in a research report on Wednesday, January 15th. Raymond James raised shares of ON from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $58.00 to $63.00 in a research note on Thursday, November 21st. TD Cowen boosted their target price on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $67.00 price objective on shares of ON in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

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.