Numerai GP LLC Sells 33,261 Shares of On Holding AG (NYSE:ONON)

Numerai GP LLC lowered its stake in On Holding AG (NYSE:ONON) by 40.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,069 shares of the company’s stock after selling 33,261 shares during the quarter. ON makes up approximately 0.7% of Numerai GP LLC’s investment portfolio, making the stock its 20th largest position. Numerai GP LLC’s holdings in ON were worth $2,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its holdings 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 purchasing an additional 462,738 shares during the period. Alliancebernstein L.P. increased its position in ON by 2.8% during 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 last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 buying an additional 18,752 shares during the period. Norges Bank acquired a new stake in shares of ON in the fourth quarter valued at approximately $164,574,000. Finally, Jennison Associates LLC boosted its stake in shares of 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 acquiring an additional 440,685 shares during the period. Institutional investors own 36.39% of the company’s stock.

Analyst Upgrades and Downgrades

ONON has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on ON in a research note on Tuesday, April 1st. They issued a “hold” rating and a $44.00 price target on the stock. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Stifel Nicolaus cut their target price on shares of ON from $66.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group downgraded shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a report on Wednesday, February 12th. Finally, Barclays lowered their price target on shares of ON from $64.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $58.18.

ON Stock Performance

ONON opened at $57.41 on Wednesday. On Holding AG has a 52-week low of $33.55 and a 52-week high of $64.05. The firm has a market cap of $36.15 billion, a P/E ratio of 133.51, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The business’s fifty day moving average is $45.33 and its 200-day moving average is $51.52.

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.