Jennison Associates LLC Purchases 440,685 Shares of On Holding AG (NYSE:ONON)

Jennison Associates LLC boosted its position in On Holding AG (NYSE:ONON) by 27.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,049,644 shares of the company’s stock after purchasing an additional 440,685 shares during the period. Jennison Associates LLC owned approximately 0.33% of ON worth $112,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ONON. RB Capital Management LLC increased its stake in ON by 214.8% in 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 during the period. Y Intercept Hong Kong Ltd increased its stake in ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after buying an additional 71,436 shares during the period. Forte Capital LLC ADV purchased a new stake in ON in the 3rd quarter valued at about $742,000. Harvest Fund Management Co. Ltd bought a new position in ON in the 3rd quarter worth about $658,000. Finally, Principal Financial Group Inc. increased its position in shares of ON by 96.5% during the third quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock worth $5,104,000 after acquiring an additional 49,995 shares during the period. Institutional investors own 36.39% of the company’s stock.

Analysts Set New Price Targets

ONON has been the topic of several research analyst reports. Barclays increased their price objective on ON from $47.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Telsey Advisory Group restated an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Wednesday, January 15th. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They issued a “buy” rating and a $73.00 price objective for the company. TD Cowen boosted their price target on shares of ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $64.00 price objective on shares of ON in a research note on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.73.

ON Trading Down 2.4 %

NYSE:ONON opened at $58.44 on Tuesday. The company’s 50 day moving average is $57.40 and its two-hundred day moving average is $50.65. The company has a market cap of $36.80 billion, a PE ratio of 135.91, a P/E/G ratio of 1.21 and a beta of 2.30. On Holding AG has a twelve month low of $26.87 and a twelve month high of $64.05.

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, 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.