On Holding AG (NYSE:ONON) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in On Holding AG (NYSE:ONONGet Rating) by 26.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,291,178 shares of the company’s stock after acquiring an additional 484,633 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ON were worth $36,772,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ONON. FMR LLC grew its position in shares of ON by 159.1% in the 2nd quarter. FMR LLC now owns 27,999,053 shares of the company’s stock worth $495,302,000 after acquiring an additional 17,190,987 shares in the last quarter. Durable Capital Partners LP grew its position in shares of ON by 114.5% in the 1st quarter. Durable Capital Partners LP now owns 11,028,390 shares of the company’s stock worth $278,357,000 after acquiring an additional 5,887,034 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new position in shares of ON in the 3rd quarter worth approximately $28,016,000. Macquarie Group Ltd. grew its position in shares of ON by 25.2% in the 2nd quarter. Macquarie Group Ltd. now owns 8,289,119 shares of the company’s stock worth $146,635,000 after acquiring an additional 1,670,574 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of ON in the 1st quarter worth approximately $34,065,000. Institutional investors and hedge funds own 17.27% of the company’s stock.

ON Stock Performance

Shares of NYSE ONON opened at $19.13 on Monday. On Holding AG has a fifty-two week low of $15.44 and a fifty-two week high of $33.76. The firm’s 50-day simple moving average is $17.71 and its 200 day simple moving average is $18.64.

ON (NYSE:ONONGet Rating) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). ON had a negative return on equity of 12.21% and a negative net margin of 10.62%. The business had revenue of $339.61 million during the quarter, compared to the consensus estimate of $317.75 million. On average, sell-side analysts expect that On Holding AG will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONON has been the topic of several recent research reports. Credit Suisse Group cut their price target on ON from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, November 17th. The Goldman Sachs Group raised ON from a “neutral” rating to a “buy” rating and cut their price target for the stock from $37.00 to $28.00 in a report on Sunday, November 20th. Williams Trading downgraded ON from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. William Blair downgraded ON from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a report on Thursday, November 17th. Finally, Morgan Stanley cut their price target on ON from $34.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, November 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.50.

About ON

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On Holding AG develops and distributes sports products worldwide. It offers athletic footwear, apparel, and accessories. The company offers its products through independent retailers and distributors, online, and stores. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.

Further Reading

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Institutional Ownership by Quarter for ON (NYSE:ONON)

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