Palogic Value Management L.P. Reduces Stake in ON24, Inc. (NYSE:ONTF)

Palogic Value Management L.P. lowered its holdings in ON24, Inc. (NYSE:ONTF) by 21.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 260,000 shares of the company’s stock after selling 71,800 shares during the quarter. Palogic Value Management L.P.’s holdings in ON24 were worth $1,680,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC lifted 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. R Squared Ltd purchased a new stake in ON24 in the 4th quarter worth approximately $153,000. FMR LLC lifted its holdings in ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after buying an additional 8,528 shares during the period. Jane Street Group LLC lifted its holdings in ON24 by 91.2% in the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after buying an additional 29,148 shares during the period. Finally, P.A.W. Capital Corp purchased a new stake in ON24 in the 4th quarter worth approximately $484,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered 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, February 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th.

Insider Activity

In other ON24 news, insider Jayesh Sahasi sold 35,564 shares of ON24 stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $5.48, for a total transaction of $194,890.72. Following the completion of the transaction, the insider now owns 644,989 shares in the company, valued at approximately $3,534,539.72. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dominique Trempont sold 4,250 shares of ON24 stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $6.94, for a total value of $29,495.00. Following the transaction, the director now owns 254,600 shares of the company’s stock, valued at $1,766,924. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 206,529 shares of company stock worth $1,174,541 and sold 184,617 shares worth $1,111,394. 32.30% of the stock is currently owned by company insiders.

ON24 Stock Down 2.1 %

ONTF opened at $5.39 on Friday. The stock has a market cap of $227.92 million, a PE ratio of -5.18 and a beta of 0.55. The business has a 50 day moving average of $6.29 and a 200-day moving average of $6.34. ON24, Inc. has a 52 week low of $5.36 and a 52 week high of $7.38.

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.