On Holding AG (NYSE:ONON) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its stake in On Holding AG (NYSE:ONON) by 9.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,956 shares of the company’s stock after selling 18,662 shares during the quarter. Peregrine Capital Management LLC’s holdings in ON were worth $9,692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Apollon Wealth Management LLC increased its stake in ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after purchasing an additional 6,808 shares in the last quarter. RB Capital Management LLC boosted its holdings in shares of ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after buying an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock worth $76,213,000 after acquiring an additional 349,789 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of ON by 584.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after acquiring an additional 71,436 shares during the period. Finally, Forte Capital LLC ADV purchased a new stake in shares of ON in the 3rd quarter valued at approximately $742,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONON has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of ON from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research report on Wednesday, January 15th. Barclays raised their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their target price on ON from $60.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 price target on shares of ON in a report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ON has an average rating of “Moderate Buy” and an average price target of $59.73.

ON Price Performance

Shares of ONON stock opened at $51.94 on Tuesday. The stock has a market cap of $32.70 billion, a P/E ratio of 120.79, a price-to-earnings-growth ratio of 1.20 and a beta of 2.30. The stock has a fifty day moving average price of $56.83 and a 200 day moving average price of $51.73. On Holding AG has a one year low of $27.37 and a one year high of $64.05.

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.