Fmr LLC Sells 8,300 Shares of On Holding AG (NYSE:ONON)

Fmr LLC reduced its stake in shares of On Holding AG (NYSE:ONON) by 0.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 28,413,227 shares of the company’s stock after selling 8,300 shares during the period. Fmr LLC’s holdings in ON were worth $1,424,923,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ONON. 1832 Asset Management L.P. increased its stake in ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares during the last quarter. Acadian Asset Management LLC increased its stake in ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock worth $59,878,000 after acquiring an additional 1,315,006 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON during the second quarter worth approximately $43,456,000. Renaissance Technologies LLC bought a new stake in ON during the second quarter worth approximately $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after acquiring an additional 642,894 shares during the last quarter. 33.11% of the stock is owned by institutional investors.

ON Stock Down 0.8 %

ON stock opened at $57.98 on Wednesday. The business has a fifty day moving average of $50.52 and a two-hundred day moving average of $44.27. The firm has a market cap of $36.51 billion, a P/E ratio of 134.84 and a beta of 2.25. On Holding AG has a twelve month low of $25.78 and a twelve month high of $59.19.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. BTIG Research raised ON from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, November 13th. Evercore ISI raised ON to an “overweight” rating and upped their target price for the company from $43.00 to $47.00 in a research note on Monday, August 12th. The Goldman Sachs Group upped their target price on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Hsbc Global Res raised ON to a “hold” rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.05.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.