ON24 (NYSE:ONTF) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of ON24 (NYSE:ONTF) in a research note published on Wednesday,Benzinga reports.

ON24 Stock Up 0.5 %

ONTF opened at $5.59 on Wednesday. The business has a 50 day moving average price of $6.55 and a two-hundred day moving average price of $6.41. The company has a market cap of $232.83 million, a PE ratio of -5.38 and a beta of 0.52. ON24 has a 52 week low of $5.37 and a 52 week high of $7.38.

Insider Buying and Selling at ON24

In other news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.40, for a total transaction of $27,200.00. Following the completion of the transaction, the director now directly owns 258,850 shares of the company’s stock, valued at approximately $1,656,640. This represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sharat Sharan sold 36,189 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $6.20, for a total value of $224,371.80. Following the transaction, the insider now directly owns 3,113,728 shares of the company’s stock, valued at approximately $19,305,113.60. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,637 shares of company stock valued at $1,110,727 in the last ninety days. Insiders own 32.30% of the company’s stock.

Hedge Funds Weigh In On ON24

Large investors have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after buying an additional 3,891 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of ON24 by 25.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after buying an additional 3,518 shares in the last quarter. Gladius Capital Management LP raised its stake in shares of ON24 by 151.2% during the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after buying an additional 13,755 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of ON24 during the 4th quarter worth approximately $153,000. 83.93% of the stock is owned by hedge funds and other 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.