ON24 (NYSE:ONTF) Earns Market Perform Rating from William Blair

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

ONTF has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research report on Wednesday.

ON24 Price Performance

NYSE ONTF traded down $0.31 on Wednesday, hitting $5.74. The company had a trading volume of 74,968 shares, compared to its average volume of 94,385. The company’s fifty day moving average price is $6.60 and its 200-day moving average price is $6.42. ON24 has a 12-month low of $5.37 and a 12-month high of $7.48. The company has a market capitalization of $238.87 million, a PE ratio of -5.55 and a beta of 0.52.

Insider Buying and Selling at ON24

In other ON24 news, CFO Steven Vattuone sold 18,376 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $6.59, for a total transaction of $121,097.84. Following the sale, the chief financial officer now directly owns 544,386 shares in the company, valued at $3,587,503.74. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharat Sharan sold 36,189 shares of ON24 stock in a transaction on Monday, January 13th. The shares were sold at an average price of $6.20, for a total transaction of $224,371.80. Following the completion of the transaction, the insider now owns 3,113,728 shares in the company, valued at approximately $19,305,113.60. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,637 shares of company stock valued at $1,110,727. Corporate insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On ON24

Several institutional investors have recently bought and sold shares of ONTF. Federated Hermes Inc. raised its position in ON24 by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 1,167,713 shares of the company’s stock valued at $7,543,000 after buying an additional 18,372 shares during the period. JPMorgan Chase & Co. lifted its position in ON24 by 43.5% during the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after acquiring an additional 249,045 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of ON24 by 15.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock valued at $3,166,000 after purchasing an additional 66,022 shares during the last quarter. Horrell Capital Management Inc. increased its stake in shares of ON24 by 15.9% in the fourth quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after purchasing an additional 54,000 shares during the period. Finally, Circumference Group LLC increased its position in ON24 by 15.9% in 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 period. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.