Jennison Associates LLC Has $80.69 Million Stock Position in On Holding AG (NYSE:ONON)

Jennison Associates LLC cut its position in On Holding AG (NYSE:ONON) by 27.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,608,959 shares of the company’s stock after selling 595,567 shares during the quarter. Jennison Associates LLC’s holdings in ON were worth $80,689,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. boosted its holdings in shares of ON by 66,838.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Acadian Asset Management LLC increased its holdings in ON by 574.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,543,978 shares of the company’s stock valued at $59,878,000 after purchasing an additional 1,315,006 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in ON in the 2nd quarter valued at $43,456,000. Renaissance Technologies LLC bought a new stake in shares of ON during the second quarter worth $27,975,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of ON by 100.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock valued at $49,716,000 after buying an additional 642,894 shares in the last quarter. 33.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Evercore ISI raised shares of ON to an “overweight” rating and boosted their target price for the stock from $43.00 to $47.00 in a research note on Monday, August 12th. Bank of America raised ON from an “underperform” rating to a “neutral” rating and increased their price target for the company from $21.00 to $55.00 in a research note on Monday, September 23rd. KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. TD Cowen upped their price target on ON from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, ON presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

ON Trading Up 0.7 %

ONON stock opened at $53.75 on Thursday. The business’s 50 day simple moving average is $50.01 and its 200 day simple moving average is $43.68. On Holding AG has a 1-year low of $25.78 and a 1-year high of $56.44. The firm has a market capitalization of $33.84 billion, a PE ratio of 125.00 and a beta of 2.25.

About ON

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.