On Holding AG (NYSE:ONON) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its stake in shares of On Holding AG (NYSE:ONON) by 27.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,049,644 shares of the company’s stock after acquiring an additional 440,685 shares during the period. Jennison Associates LLC’s holdings in ON were worth $112,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONON. Private Trust Co. NA acquired a new position in shares of ON during the 3rd quarter worth about $26,000. Blue Trust Inc. raised its holdings in shares of ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter worth approximately $29,000. Finally, Quarry LP purchased a new stake in shares of ON during the second quarter worth approximately $32,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

ON stock opened at $58.44 on Tuesday. The company has a market capitalization of $36.80 billion, a PE ratio of 135.91, a price-to-earnings-growth ratio of 1.21 and a beta of 2.30. On Holding AG has a fifty-two week low of $26.87 and a fifty-two week high of $64.05. The firm has a 50 day moving average price of $57.40 and a 200 day moving average price of $50.65.

Analysts Set New Price Targets

ONON has been the topic of a number of research reports. TD Cowen raised their price objective on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Robert W. Baird raised their price target on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays upped their price objective on shares of ON from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Morgan Stanley raised their target price on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of ON in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ON has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

ON Company 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.