Gilder Gagnon Howe & Co. LLC Acquires New Stake in On Holding AG (NYSE:ONON)

Gilder Gagnon Howe & Co. LLC acquired a new stake in On Holding AG (NYSE:ONON) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 209,661 shares of the company’s stock, valued at approximately $11,483,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ONON. Wilmington Savings Fund Society FSB purchased a new stake in shares of ON in the third quarter valued at approximately $259,000. Lord Abbett & CO. LLC raised its stake in ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after buying an additional 459,157 shares in the last quarter. Principal Financial Group Inc. raised its stake in ON by 96.5% in the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after buying an additional 49,995 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in ON by 12.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock worth $566,000 after buying an additional 1,161 shares during the period. Finally, Diversified Trust Co bought a new stake in ON during the 4th quarter valued at $995,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on ON from $62.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research report on Tuesday, April 1st. Jefferies Financial Group initiated coverage on shares of ON in a research report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price objective on the stock. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus reduced their price target on ON from $66.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

ON Stock Performance

Shares of ONON opened at $45.01 on Friday. The business’s 50-day moving average is $45.37 and its two-hundred day moving average is $51.48. The company has a market capitalization of $28.34 billion, a P/E ratio of 104.68, a P/E/G ratio of 1.02 and a beta of 2.32. On Holding AG has a fifty-two week low of $29.84 and a fifty-two week high of $64.05.

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.