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

Allspring Global Investments Holdings LLC lowered its stake in On Holding AG (NYSE:ONON) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,041,562 shares of the company’s stock after selling 183,332 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ON were worth $79,213,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. VisionPoint Advisory Group LLC acquired a new stake in ON during the 4th quarter worth about $32,000. Orion Capital Management LLC raised its stake in shares of ON by 1,100.0% in the fourth quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,100 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of ON during the fourth quarter worth about $33,000. Spire Wealth Management boosted its position in ON by 66.2% in the fourth quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Finally, WD Rutherford LLC acquired a new position in ON in the 1st quarter worth approximately $52,000. 33.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ONON shares. Telsey Advisory Group restated an “outperform” rating and set a $47.00 price objective on shares of ON in a research note on Tuesday, August 13th. Sanford C. Bernstein assumed coverage on ON in a research report on Tuesday, June 11th. They set an “outperform” rating and a $50.00 price target on the stock. TD Cowen boosted their price objective on ON from $48.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price target on ON from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Barclays boosted their target price on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.83.

ON Stock Down 0.2 %

Shares of ON stock traded down $0.07 on Tuesday, hitting $45.83. 446,968 shares of the company were exchanged, compared to its average volume of 5,223,235. On Holding AG has a 1-year low of $23.41 and a 1-year high of $45.93. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 104.34, a price-to-earnings-growth ratio of 1.22 and a beta of 2.22. The company has a 50-day moving average price of $39.72 and a 200 day moving average price of $36.62.

ON Company Profile

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.