XTX Topco Ltd Makes New Investment in On Holding AG (NYSE:ONON)

XTX Topco Ltd acquired a new stake in On Holding AG (NYSE:ONON) in the 4th quarter, HoldingsChannel reports. The fund acquired 10,817 shares of the company’s stock, valued at approximately $592,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of ON by 1.8% during the 3rd quarter. State Street Corp now owns 228,847 shares of the company’s stock valued at $11,477,000 after purchasing an additional 4,152 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of ON during the 3rd quarter worth about $259,000. Lord Abbett & CO. LLC grew its position in shares of 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 acquiring an additional 459,157 shares during the period. Principal Financial Group Inc. increased its stake in shares of ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock valued at $5,104,000 after purchasing an additional 49,995 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in ON by 12.7% in the 4th quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock worth $566,000 after purchasing an additional 1,161 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ONON. Barclays upped their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Stifel Nicolaus decreased their price objective on ON from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. TD Cowen increased their target price on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. KeyCorp restated an “overweight” rating and set a $68.00 price target on shares of ON in a research report on Wednesday, March 5th. Finally, Bank of America initiated coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ON presently has an average rating of “Moderate Buy” and an average price target of $60.00.

ON Price Performance

Shares of ON stock opened at $42.50 on Friday. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of 98.83, a price-to-earnings-growth ratio of 1.02 and a beta of 2.32. The business has a 50-day moving average of $46.52 and a 200 day moving average of $51.77. On Holding AG has a 12 month low of $29.84 and a 12 month 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.