ExodusPoint Capital Management LP Takes Position in On Holding AG (NYSE:ONON)

ExodusPoint Capital Management LP acquired a new position in On Holding AG (NYSE:ONON) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 185,791 shares of the company’s stock, valued at approximately $10,176,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 6,808 shares during the period. RB Capital Management LLC raised its holdings in ON by 214.8% during the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after purchasing an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 purchasing an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of ON during the 4th quarter valued at $30,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of ON by 584.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after purchasing an additional 71,436 shares during the period. Institutional investors own 36.39% of the company’s stock.

Analyst Ratings Changes

ONON has been the subject of several research reports. TD Cowen raised their target price on ON from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of ON from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 11th. Telsey Advisory Group reissued an “outperform” rating and set a $67.00 target price on shares of ON in a research note on Tuesday. Finally, Bank of America began coverage on shares of ON in a research report on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.45.

ON Stock Up 5.1 %

ONON stock opened at $39.56 on Friday. The company has a 50 day moving average of $50.36 and a two-hundred day moving average of $52.40. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 92.00, a PEG ratio of 1.02 and a beta of 2.35. On Holding AG has a 12-month low of $29.84 and a 12-month high of $64.05.

ON 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.