ON24 (NYSE:ONTF) Earns Hold Rating from Needham & Company LLC

ON24 (NYSE:ONTF)‘s stock had its “hold” rating restated by Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Separately, JPMorgan Chase & Co. decreased their target price on ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

ON24 Stock Performance

Shares of ONTF stock opened at $6.58 on Friday. The stock has a market capitalization of $273.27 million, a price-to-earnings ratio of -6.39 and a beta of 0.46. ON24 has a one year low of $5.37 and a one year high of $8.35. The company’s 50-day simple moving average is $6.18 and its 200-day simple moving average is $6.17.

Insider Buying and Selling at ON24

In other news, CFO Steven Vattuone sold 7,094 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.86, for a total transaction of $41,570.84. Following the sale, the chief financial officer now directly owns 542,974 shares in the company, valued at approximately $3,181,827.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jayesh Sahasi sold 4,468 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total value of $28,371.80. Following the completion of the transaction, the insider now directly owns 727,913 shares of the company’s stock, valued at $4,622,247.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Vattuone sold 7,094 shares of ON24 stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.86, for a total value of $41,570.84. Following the sale, the chief financial officer now directly owns 542,974 shares in the company, valued at $3,181,827.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,178 shares of company stock worth $787,227 over the last ninety days. Company insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On ON24

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in ON24 by 856.5% during the 1st quarter. Acadian Asset Management LLC now owns 469,544 shares of the company’s stock valued at $3,351,000 after buying an additional 420,455 shares during the period. Renaissance Technologies LLC lifted its position in ON24 by 12.9% in the second quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock worth $4,366,000 after purchasing an additional 83,000 shares during the period. Vanguard Group Inc. lifted its position in ON24 by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after purchasing an additional 49,498 shares during the period. Cubist Systematic Strategies LLC boosted its stake in ON24 by 8.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock valued at $395,000 after purchasing an additional 5,337 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of ON24 by 18.3% during the 1st quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock valued at $584,000 after purchasing an additional 12,676 shares during the period. 83.93% of the stock is currently owned by institutional investors.

ON24 Company Profile

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.