132,984 Shares in On Holding AG (NYSE:ONON) Acquired by WT Asset Management Ltd

WT Asset Management Ltd acquired a new position in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 132,984 shares of the company’s stock, valued at approximately $7,284,000. ON makes up approximately 0.8% of WT Asset Management Ltd’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA acquired a new stake in shares of ON during the 3rd quarter worth about $26,000. Blue Trust Inc. grew its stake in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after buying an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of ON in the third quarter valued at approximately $29,000. Finally, Legacy Bridge LLC acquired a new position in shares of ON in the 4th quarter worth approximately $43,000. 36.39% of the stock is owned by institutional investors.

ON Stock Performance

ONON opened at $58.28 on Wednesday. On Holding AG has a twelve month low of $26.87 and a twelve month high of $64.05. The firm has a market cap of $36.69 billion, a PE ratio of 135.53, a price-to-earnings-growth ratio of 1.21 and a beta of 2.30. The firm’s fifty day moving average is $57.40 and its two-hundred day moving average is $50.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Williams Trading upgraded ON from a “hold” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $60.00 in a research report on Wednesday, November 13th. Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $58.00 to $63.00 in a report on Thursday, November 21st. Robert W. Baird increased their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of ON in a research note on Wednesday, January 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.73.

About ON

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.