On Holding AG (NYSE:ONON) Shares Sold by Shelton Wealth Management LLC

Shelton Wealth Management LLC lowered its position in On Holding AG (NYSE:ONON) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,684 shares of the company’s stock after selling 6,902 shares during the period. Shelton Wealth Management LLC’s holdings in ON were worth $1,242,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. 1832 Asset Management L.P. grew 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 valued at $93,500,000 after purchasing an additional 2,406,200 shares during the last quarter. Renaissance Technologies LLC purchased a new position in ON during the 2nd quarter valued at about $27,975,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of ON by 100.7% in the second 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 during the last quarter. Cerity Partners LLC raised its holdings in shares of ON by 189.9% in the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after acquiring an additional 471,323 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after acquiring an additional 459,157 shares in the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Stock Performance

ON stock opened at $58.02 on Friday. The business’s 50-day simple moving average is $56.00 and its 200-day simple moving average is $48.74. On Holding AG has a 52 week low of $26.03 and a 52 week high of $60.12. The firm has a market capitalization of $36.53 billion, a PE ratio of 134.94, a PEG ratio of 1.16 and a beta of 2.30.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup initiated coverage on shares of ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price on the stock. Truist Financial increased their price target on ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their price objective on ON from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group raised their target price on ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group reiterated a “buy” rating and issued a $63.00 price objective on shares of ON in a report on Friday, December 27th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

ON Company 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.