IFP Advisors Inc Purchases 3,553 Shares of On Holding AG (NYSE:ONON)

IFP Advisors Inc lifted its position in shares of On Holding AG (NYSE:ONON) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,662 shares of the company’s stock after purchasing an additional 3,553 shares during the quarter. IFP Advisors Inc’s holdings in ON were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ONON. Jennison Associates LLC lifted its position in ON by 27.4% during the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of 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 acquiring an additional 349,789 shares in the last quarter. Cerity Partners LLC lifted its position in ON by 189.9% during the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after acquiring an additional 471,323 shares during the period. Lord Abbett & CO. LLC boosted its stake in ON by 338.3% during the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after acquiring an additional 459,157 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in ON by 4.3% in the third quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock worth $21,040,000 after purchasing an additional 17,362 shares during the period. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

ONON stock opened at $49.82 on Thursday. The business’s 50-day moving average is $55.92 and its two-hundred day moving average is $52.23. The company has a market cap of $31.37 billion, a price-to-earnings ratio of 115.87, a P/E/G ratio of 1.02 and a beta of 2.30. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. 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 report on Wednesday, November 13th. Truist Financial lifted their price objective on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America initiated coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price on the stock. TD Cowen lifted their price target on ON from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, KeyCorp increased their price objective on shares of ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and an average 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.