On Holding AG (NYSE:ONON) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC trimmed its holdings in On Holding AG (NYSE:ONON) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,398 shares of the company’s stock after selling 544 shares during the period. GeoWealth Management LLC’s holdings in ON were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in ON during the 4th quarter valued at $164,574,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of ON in the 4th quarter valued at approximately $78,799,000. Axiom Investors LLC DE acquired a new stake in shares of ON during the 4th quarter valued at approximately $39,320,000. Raymond James Financial Inc. acquired a new position in ON in the fourth quarter worth $28,575,000. Finally, Alliancebernstein L.P. increased its stake in ON by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after purchasing an additional 471,805 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Stock Performance

ONON opened at $42.71 on Wednesday. The stock’s fifty day moving average is $46.03 and its 200-day moving average is $51.68. On Holding AG has a one year low of $29.84 and a one year high of $64.05. The company has a market capitalization of $26.89 billion, a PE ratio of 99.32, a P/E/G ratio of 1.02 and a beta of 2.32.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus decreased their price target on shares of ON from $66.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Telsey Advisory Group restated an “outperform” rating and issued a $67.00 target price on shares of ON in a research note on Tuesday, April 1st. Piper Sandler dropped their price target on ON from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. TD Cowen boosted their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Barclays increased their target price on ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

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.