Governors Lane LP Sells 157,700 Shares of On Holding AG (NYSE:ONON)

Governors Lane LP decreased its position in On Holding AG (NYSE:ONON) by 59.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,800 shares of the company’s stock after selling 157,700 shares during the period. Governors Lane LP’s holdings in ON were worth $5,795,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ONON. Focus Partners Wealth grew its holdings in shares of ON by 20.0% in the 4th quarter. Focus Partners Wealth now owns 27,907 shares of the company’s stock valued at $1,528,000 after acquiring an additional 4,657 shares in the last quarter. Fullerton Fund Management Co Ltd. bought a new position in ON in the fourth quarter valued at approximately $16,005,000. Cresset Asset Management LLC increased its position in shares of ON by 29.5% during the 4th quarter. Cresset Asset Management LLC now owns 8,702 shares of the company’s stock worth $477,000 after purchasing an additional 1,983 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of ON by 24.1% during the 4th quarter. Cetera Investment Advisers now owns 47,186 shares of the company’s stock worth $2,584,000 after purchasing an additional 9,176 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of ON by 66.4% in the 4th quarter. Baird Financial Group Inc. now owns 98,007 shares of the company’s stock valued at $5,368,000 after buying an additional 39,102 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

ON Price Performance

Shares of NYSE:ONON opened at $49.46 on Friday. The company has a market capitalization of $31.14 billion, a P/E ratio of 115.03, a P/E/G ratio of 1.02 and a beta of 2.30. The business’s 50 day simple moving average is $45.20 and its 200 day simple moving average is $51.42. On Holding AG has a 1 year low of $29.84 and a 1 year high of $64.05.

Analyst Upgrades and Downgrades

A number of analysts have commented on ONON shares. Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group cut ON from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Wednesday, February 12th. KeyCorp dropped their price objective on ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley reduced their target price on ON from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC increased their price target on ON from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ON presently has a consensus rating of “Buy” and a consensus target price of $58.73.

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.