Jennison Associates LLC Decreases Stock Position in On Holding AG (NYSE:ONON)

Jennison Associates LLC decreased its holdings in On Holding AG (NYSE:ONON) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,608,959 shares of the company’s stock after selling 595,567 shares during the quarter. Jennison Associates LLC owned approximately 0.26% of ON worth $80,689,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its holdings in ON by 66,838.9% in 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 shares of ON by 574.3% during the second quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after acquiring an additional 1,315,006 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in ON during the second quarter worth approximately $43,456,000. Renaissance Technologies LLC acquired a new stake in ON in the second quarter worth approximately $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in ON by 100.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after purchasing an additional 642,894 shares in the last quarter. Hedge funds and other institutional investors own 33.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ONON. Raymond James assumed coverage on ON in a research note on Wednesday, July 31st. They set an “outperform” rating and a $46.00 target price for the company. UBS Group boosted their target price on shares of ON from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised their target price on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus upped their price target on ON from $45.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America raised ON from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $55.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.33.

ON Stock Up 0.7 %

NYSE ONON opened at $53.75 on Thursday. The stock has a market cap of $33.84 billion, a P/E ratio of 125.00 and a beta of 2.25. On Holding AG has a twelve month low of $25.78 and a twelve month high of $56.44. The company’s 50-day simple moving average is $50.01 and its 200 day simple moving average is $43.68.

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.