Victory Capital Management Inc. Sells 13,514 Shares of On Holding AG (NYSE:ONON)

Victory Capital Management Inc. reduced its stake in On Holding AG (NYSE:ONON) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 749,593 shares of the company’s stock after selling 13,514 shares during the period. Victory Capital Management Inc.’s holdings in ON were worth $41,055,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC increased 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 purchasing an additional 471,323 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in ON by 338.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock valued at $29,834,000 after buying an additional 459,157 shares in the last quarter. Jennison Associates LLC grew its holdings in ON by 27.4% during the 4th quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock valued at $112,259,000 after buying an additional 440,685 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ON by 34.1% during the 4th 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. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of ON during the 3rd quarter valued at approximately $10,263,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Stock Performance

Shares of NYSE:ONON opened at $46.70 on Friday. The firm has a market cap of $29.40 billion, a PE ratio of 108.61, a price-to-earnings-growth ratio of 1.02 and a beta of 2.35. The firm’s 50 day simple moving average is $54.90 and its 200-day simple moving average is $52.51. On Holding AG has a one year low of $27.37 and a one year high of $64.05.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ONON shares. KeyCorp restated an “overweight” rating and issued a $68.00 price target on shares of ON in a research report on Wednesday. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 price target on shares of ON in a report on Tuesday, March 4th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price objective on shares of ON in a research note on Tuesday, March 4th. Finally, UBS Group raised their price objective on ON from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.62.

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.