Needham & Company LLC Reiterates “Hold” Rating for ON24 (NYSE:ONTF)

Needham & Company LLC reiterated their hold rating on shares of ON24 (NYSE:ONTF) in a report issued on Wednesday morning,Benzinga reports.

ON24 Trading Down 4.0 %

Shares of NYSE:ONTF opened at $5.80 on Wednesday. The stock has a market capitalization of $241.58 million, a P/E ratio of -5.58 and a beta of 0.52. ON24 has a 12-month low of $5.37 and a 12-month high of $7.48. The stock’s 50-day moving average price is $6.59 and its 200-day moving average price is $6.42.

Insiders Place Their Bets

In related news, CFO Steven Vattuone sold 3,830 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $6.96, for a total value of $26,656.80. Following the completion of the transaction, the chief financial officer now directly owns 560,885 shares in the company, valued at $3,903,759.60. The trade was a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sharat Sharan sold 36,189 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was 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 of the company’s stock, valued at approximately $19,305,113.60. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,637 shares of company stock worth $1,110,727 over the last three months. Company insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in ON24 by 38.1% in 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 during the period. Squarepoint Ops LLC boosted its holdings in ON24 by 56.6% in 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 during the period. Wells Fargo & Company MN boosted its holdings in ON24 by 25.6% in 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 during the period. Gladius Capital Management LP boosted its holdings in ON24 by 151.2% in 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 during the period. Finally, R Squared Ltd bought a new position in ON24 in the 4th quarter worth $153,000. Institutional investors 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.