Allspring Global Investments Holdings LLC Acquires 349,789 Shares of On Holding AG (NYSE:ONON)

Allspring Global Investments Holdings LLC grew its holdings in On Holding AG (NYSE:ONON) by 34.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,376,850 shares of the company’s stock after purchasing an additional 349,789 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of ON worth $76,213,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC grew its position in ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after acquiring an additional 440,685 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock valued at $36,083,000 after purchasing an additional 471,323 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings 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 purchasing an additional 459,157 shares during the last quarter. Wasatch Advisors LP increased its position in ON by 4.3% during the 3rd 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 in the last quarter. Finally, Raymond James & Associates lifted its stake in ON by 23.4% in the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock valued at $12,875,000 after purchasing an additional 48,600 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Stock Performance

ON stock opened at $54.09 on Thursday. The stock’s 50 day moving average price is $57.15 and its two-hundred day moving average price is $51.40. The stock has a market capitalization of $34.06 billion, a price-to-earnings ratio of 125.79, a PEG ratio of 1.20 and a beta of 2.30. On Holding AG has a 52-week low of $27.37 and a 52-week high of $64.05.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ONON shares. Truist Financial upped their price target on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $58.00 to $63.00 in a report on Thursday, November 21st. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Wednesday, November 13th. TD Cowen upped their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of ON in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

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, 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.