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

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

ON24 Price Performance

ONTF opened at $5.55 on Wednesday. The company has a fifty day moving average price of $6.57 and a 200-day moving average price of $6.41. The firm has a market capitalization of $230.95 million, a P/E ratio of -5.33 and a beta of 0.52. ON24 has a one year low of $5.37 and a one year high of $7.38.

Insider Transactions at ON24

In other ON24 news, insider Sharat Sharan sold 36,189 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $6.20, for a total value of $224,371.80. Following the completion of the sale, the insider now directly owns 3,113,728 shares of the company’s stock, valued at $19,305,113.60. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven Vattuone sold 7,538 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 568,435 shares of the company’s stock, valued at $3,802,830.15. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,637 shares of company stock valued at $1,110,727. Insiders own 32.30% of the company’s stock.

Institutional Trading of ON24

Several hedge funds have recently added to or reduced their stakes in ONTF. JPMorgan Chase & Co. raised its stake in shares of ON24 by 43.5% during the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock valued at $5,307,000 after acquiring an additional 249,045 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of ON24 by 50.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company’s stock valued at $2,351,000 after acquiring an additional 122,700 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of ON24 during the fourth quarter valued at about $777,000. P.A.W. Capital Corp bought a new position in shares of ON24 during the fourth quarter valued at about $484,000. Finally, Norges Bank bought a new position in shares of ON24 during the fourth quarter valued at about $428,000. 83.93% of the stock is owned by institutional investors.

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.