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

William Blair reiterated their market perform rating on shares of ON24 (NYSE:ONTF) in a research note issued to investors on Wednesday,RTT News reports.

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

ON24 Trading Down 4.0 %

Shares of NYSE ONTF opened at $5.80 on Wednesday. The business has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $6.42. The firm has a market capitalization of $241.58 million, a price-to-earnings ratio of -5.58 and a beta of 0.52. ON24 has a one year low of $5.37 and a one year high of $7.48.

Insiders Place Their Bets

In other news, CFO Steven Vattuone sold 4,269 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.63, for a total value of $28,303.47. Following the completion of the sale, the chief financial officer now directly owns 579,322 shares in the company, valued at approximately $3,840,904.86. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jayesh Sahasi sold 6,457 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 700,479 shares of the company’s stock, valued at approximately $4,686,204.51. This trade represents a 0.91 % 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. 32.30% of the stock is currently owned by corporate insiders.

Institutional Trading of ON24

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its stake in shares of ON24 by 1.6% in 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of ON24 by 43.5% in the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock valued at $5,307,000 after buying an additional 249,045 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 buying an additional 66,022 shares in 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 valued at $2,547,000 after buying an additional 54,000 shares in the last quarter. Finally, Circumference Group LLC increased its stake in shares of ON24 by 15.9% in the fourth quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock valued at $2,547,000 after buying an additional 54,000 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

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.