Envestnet Portfolio Solutions Inc. Buys 754 Shares of On Holding AG (NYSE:ONON)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of On Holding AG (NYSE:ONON) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 30,841 shares of the company’s stock after purchasing an additional 754 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ON were worth $1,689,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Apollon Wealth Management LLC increased its holdings in shares of ON by 74.0% during the fourth quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after buying an additional 6,808 shares in the last quarter. RB Capital Management LLC increased its holdings in ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after purchasing an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position 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 valued at $76,213,000 after purchasing an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in ON in the fourth quarter worth $30,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after purchasing an additional 71,436 shares during the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of research analyst reports. HSBC raised shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. KeyCorp reissued an “overweight” rating and issued a $68.00 price target on shares of ON in a report on Wednesday, March 5th. Williams Trading increased their price objective on ON from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Bank of America began coverage on ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 target price for the company. Finally, TD Cowen raised their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.90.

ON Stock Up 1.4 %

ONON opened at $46.22 on Friday. The stock has a market cap of $29.10 billion, a P/E ratio of 107.49, a P/E/G ratio of 1.02 and a beta of 2.35. On Holding AG has a 12 month low of $29.84 and a 12 month high of $64.05. The company has a fifty day simple moving average of $53.05 and a 200 day simple moving average of $52.57.

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.