On Holding AG (NYSE:ONON) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in On Holding AG (NYSE:ONON) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,378,277 shares of the company’s stock after acquiring an additional 471,805 shares during the quarter. Alliancebernstein L.P.’s holdings in ON were worth $951,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ONON. Private Trust Co. NA acquired a new stake in shares of ON in the third quarter worth $26,000. Legacy Bridge LLC purchased a new stake in ON during the 4th quarter worth $43,000. Arcadia Investment Management Corp MI acquired a new stake in ON in the 4th quarter valued at $53,000. VisionPoint Advisory Group LLC acquired a new stake in ON in the 4th quarter valued at $65,000. Finally, Blue Trust Inc. raised its position in ON by 148.8% in the fourth quarter. Blue Trust Inc. now owns 1,316 shares of the company’s stock valued at $66,000 after purchasing an additional 787 shares during the period. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Trading Down 4.1 %

Shares of ON stock opened at $44.10 on Monday. On Holding AG has a twelve month low of $29.84 and a twelve month high of $64.05. The stock has a market capitalization of $27.76 billion, a price-to-earnings ratio of 102.55, a PEG ratio of 1.02 and a beta of 2.35. The business’s 50 day simple moving average is $52.13 and its 200-day simple moving average is $52.67.

Analyst Upgrades and Downgrades

ONON has been the subject of a number of recent research reports. The Goldman Sachs Group lowered 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. UBS Group increased their price objective on shares of ON from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Williams Trading boosted their target price on shares of ON from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Bank of America assumed coverage on shares of ON in a report on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of ON from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two 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’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target 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.