On Holding AG (NYSE:ONON) Stake Cut by Laurion Capital Management LP

Laurion Capital Management LP cut its position in shares of On Holding AG (NYSE:ONON) by 78.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the company’s stock after selling 46,627 shares during the quarter. Laurion Capital Management LP’s holdings in ON were worth $712,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in ON by 1.6% in the fourth quarter. FMR LLC now owns 28,875,965 shares of the company’s stock worth $1,581,537,000 after buying an additional 462,738 shares during the period. Alliancebernstein L.P. increased its position in ON by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 17,378,277 shares of the company’s stock worth $951,808,000 after buying an additional 471,805 shares during the period. T. Rowe Price Investment Management Inc. increased its position 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 worth $184,109,000 after buying an additional 18,752 shares during the period. Norges Bank acquired a new stake in ON in the fourth quarter worth $164,574,000. Finally, Jennison Associates LLC increased its position in ON by 27.4% in the fourth quarter. Jennison Associates LLC now owns 2,049,644 shares of the company’s stock worth $112,259,000 after buying an additional 440,685 shares during the period. 36.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. KeyCorp dropped their target price on ON from $68.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus dropped their target price on ON from $66.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group started coverage on ON in a research report on Tuesday, April 1st. They issued a “hold” rating and a $44.00 target price on the stock. Barclays raised their price target on ON from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC raised their price target on ON from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $58.73.

ON Stock Down 0.5%

NYSE:ONON opened at $49.46 on Monday. The business’s 50-day moving average price is $45.20 and its 200 day moving average price is $51.47. The firm has a market cap of $31.14 billion, a P/E ratio of 115.03, a PEG ratio of 1.02 and a beta of 2.30. On Holding AG has a 52-week low of $30.32 and a 52-week high of $64.05.

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, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.