ON24’s (ONTF) “Market Perform” Rating Reiterated at William Blair

ON24 (NYSE:ONTF)‘s stock had its “market perform” rating restated by investment analysts at William Blair in a research report issued on Wednesday,RTT News reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Wednesday.

ON24 Price Performance

Shares of NYSE ONTF opened at $5.55 on Wednesday. The company has a market cap of $230.95 million, a price-to-earnings ratio of -5.33 and a beta of 0.52. The stock’s 50-day moving average is $6.57 and its two-hundred day moving average is $6.41. ON24 has a 1-year low of $5.37 and a 1-year high of $7.38.

Insider Buying and Selling at ON24

In other ON24 news, insider Jayesh Sahasi sold 6,457 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $6.69, for a total value of $43,197.33. Following the transaction, the insider now directly owns 700,479 shares in the company, valued at $4,686,204.51. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Vattuone sold 7,538 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.69, for a total transaction of $50,429.22. Following the sale, the chief financial officer now directly owns 568,435 shares in the company, valued at approximately $3,802,830.15. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,637 shares of company stock worth $1,110,727 over the last ninety days. Corporate insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ONTF. Squarepoint Ops LLC lifted its position in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after acquiring an additional 5,713 shares during the last quarter. Two Sigma Investments LP increased its position in shares of ON24 by 11.9% during the fourth quarter. Two Sigma Investments LP now owns 175,366 shares of the company’s stock worth $1,133,000 after purchasing an additional 18,647 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of ON24 by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 256,900 shares of the company’s stock valued at $1,660,000 after purchasing an additional 26,200 shares during the last quarter. Millennium Management LLC boosted its position in shares of ON24 by 84.8% in the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company’s stock valued at $920,000 after purchasing an additional 65,322 shares during the period. Finally, Circumference Group LLC grew its stake in ON24 by 15.9% during the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock worth $2,547,000 after buying an additional 54,000 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

About ON24

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.