Point72 Hong Kong Ltd Invests $69,000 in On Holding AG (NYSE:ONON)

Point72 Hong Kong Ltd acquired a new stake in On Holding AG (NYSE:ONON) in the fourth quarter, Holdings Channel reports. The firm acquired 1,267 shares of the company’s stock, valued at approximately $69,000.

Several other large investors have also bought and sold shares of ONON. FMR LLC grew its position in shares of ON by 1.6% in the 4th quarter. FMR LLC now owns 28,875,965 shares of the company’s stock valued at $1,581,537,000 after buying an additional 462,738 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in ON by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock valued at $951,808,000 after acquiring an additional 471,805 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in ON by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,361,491 shares of the company’s stock valued at $184,109,000 after acquiring an additional 18,752 shares during the last quarter. Norges Bank acquired a new stake in ON during the 4th quarter valued at approximately $164,574,000. Finally, Jennison Associates LLC raised 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 worth $112,259,000 after purchasing an additional 440,685 shares during the last quarter. 36.39% of the stock is owned by institutional investors.

ON Trading Down 0.8%

ONON opened at $59.79 on Friday. On Holding AG has a 1-year low of $34.59 and a 1-year high of $64.05. The company has a market cap of $37.64 billion, a price-to-earnings ratio of 139.04, a PEG ratio of 1.02 and a beta of 2.30. The company’s fifty day moving average price is $46.16 and its two-hundred day moving average price is $51.72.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ONON shares. Morgan Stanley reduced their price objective on shares of ON from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price target on shares of ON in a research report on Tuesday, May 13th. Hsbc Global Res raised ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Citigroup raised ON from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $65.00 to $60.00 in a research note on Monday, April 28th. Finally, Cowen reaffirmed a “buy” rating on shares of ON in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ON presently has a consensus rating of “Buy” and a consensus target price of $61.73.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.