Axxcess Wealth Management LLC Acquires Shares of 6,766 On Holding AG (NYSE:ONON)

Axxcess Wealth Management LLC bought a new position in On Holding AG (NYSE:ONON) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,766 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds also recently made changes to their positions in ONON. Counterpoint Mutual Funds LLC purchased a new stake in ON during the fourth quarter valued at $271,000. Harbour Investments Inc. increased its stake in ON by 24.1% during the fourth quarter. Harbour Investments Inc. now owns 1,928 shares of the company’s stock worth $106,000 after acquiring an additional 375 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in ON by 2.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 30,841 shares of the company’s stock worth $1,689,000 after purchasing an additional 754 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of ON during the fourth quarter valued at approximately $926,000. Finally, Analyst IMS Investment Management Services Ltd. grew its stake in shares of ON by 211.5% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 35,640 shares of the company’s stock valued at $1,952,000 after buying an additional 24,200 shares during the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

ON stock opened at $46.22 on Friday. The business has a fifty day moving average price of $53.05 and a 200-day moving average price of $52.57. On Holding AG has a 1-year low of $29.84 and a 1-year high of $64.05. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 107.49, a PEG ratio of 1.02 and a beta of 2.35.

Analyst Ratings Changes

Several equities analysts have commented on ONON shares. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, March 11th. Bank of America assumed coverage on shares of ON in a research report on Tuesday, January 7th. They set a “buy” rating and a $73.00 target price on the stock. Hsbc Global Res upgraded ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Citigroup initiated coverage on ON in a report on Wednesday, December 18th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ON presently has a consensus rating of “Buy” and a consensus target price of $61.90.

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.