Migdal Insurance & Financial Holdings Ltd. Buys Shares of 200,000 On Holding AG (NYSE:ONON)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of On Holding AG (NYSE:ONON) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 200,000 shares of the company’s stock, valued at approximately $10,954,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in ON by 27.4% in 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 period. Cerity Partners LLC boosted its stake in ON by 189.9% in the 3rd quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after purchasing an additional 471,323 shares during the period. Lord Abbett & CO. LLC boosted its stake in ON by 338.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after purchasing an additional 459,157 shares during the period. Wasatch Advisors LP boosted its stake in ON by 4.3% in the 3rd quarter. Wasatch Advisors LP now owns 419,536 shares of the company’s stock worth $21,040,000 after purchasing an additional 17,362 shares during the period. Finally, Raymond James & Associates boosted its stake in ON by 23.4% in the 3rd quarter. Raymond James & Associates now owns 256,725 shares of the company’s stock worth $12,875,000 after purchasing an additional 48,600 shares during the period. Institutional investors own 36.39% of the company’s stock.

ON Price Performance

ONON opened at $59.73 on Friday. On Holding AG has a fifty-two week low of $27.37 and a fifty-two week high of $64.05. The firm has a market capitalization of $37.61 billion, a PE ratio of 138.91, a P/E/G ratio of 1.21 and a beta of 2.30. The company’s 50-day moving average is $57.42 and its 200 day moving average is $50.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ONON shares. UBS Group reaffirmed a “buy” rating and issued a $63.00 target price on shares of ON in a research note on Friday, December 27th. Robert W. Baird increased their price objective on shares of ON from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley increased their price objective on shares of ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and set a $64.00 price objective on shares of ON in a research note on Wednesday, January 15th. Finally, BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ON presently has a consensus rating of “Moderate Buy” and an average target price of $59.73.

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.