Allspring Global Investments Holdings LLC Has $76.21 Million Stock Position in On Holding AG (NYSE:ONON)

Allspring Global Investments Holdings LLC boosted its position in On Holding AG (NYSE:ONON) by 34.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,376,850 shares of the company’s stock after acquiring an additional 349,789 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ON were worth $76,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Truist Financial Corp bought a new position in shares of ON in the 2nd quarter worth $463,000. Creative Planning lifted its stake in shares of ON by 6.6% in the third quarter. Creative Planning now owns 18,779 shares of the company’s stock valued at $942,000 after buying an additional 1,160 shares in the last quarter. Sentry LLC bought a new position in shares of ON in the third quarter valued at $251,000. Tsfg LLC acquired a new position in shares of ON during the third quarter valued at about $69,000. Finally, nVerses Capital LLC bought a new stake in shares of ON during the third quarter worth about $65,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ONON shares. KeyCorp lifted their price target on ON from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial lifted their target price on ON from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group reissued a “buy” rating and issued a $63.00 price target on shares of ON in a research report on Friday, December 27th. Raymond James upgraded ON from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $58.00 to $63.00 in a research note on Thursday, November 21st. Finally, Citigroup began coverage on shares of ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 target price for the company. Five equities research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Stock Performance

ONON stock opened at $54.09 on Thursday. The stock has a fifty day moving average of $57.15 and a 200-day moving average of $51.40. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The company has a market capitalization of $34.06 billion, a price-to-earnings ratio of 125.79, a PEG ratio of 1.20 and a beta of 2.30.

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.