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

ON24 (NYSE:ONTF)‘s stock had its “market perform” rating reaffirmed by William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

Several other research firms also recently weighed in on ONTF. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday.

ON24 Stock Down 4.2 %

ONTF opened at $5.55 on Wednesday. The company has a market cap of $230.95 million, a PE ratio of -5.33 and a beta of 0.52. ON24 has a twelve month low of $5.37 and a twelve month high of $7.38. The company has a 50-day moving average price of $6.57 and a 200 day moving average price of $6.41.

Insider Buying and Selling at ON24

In other news, insider Sharat Sharan sold 36,189 shares of the company’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 value of $224,371.80. Following the completion of the sale, the insider now directly owns 3,113,728 shares in the company, valued at $19,305,113.60. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jayesh Sahasi sold 5,047 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $7.00, for a total value of $35,329.00. Following the completion of the sale, the insider now directly owns 692,045 shares of the company’s stock, valued at approximately $4,844,315. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,637 shares of company stock worth $1,110,727. Insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ONTF. Charles Schwab Investment Management Inc. increased its position in ON24 by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,189 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after buying an additional 3,518 shares during the period. SG Americas Securities LLC increased its holdings in shares of ON24 by 38.1% during 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 last quarter. Squarepoint Ops LLC raised its position in shares of ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after buying an additional 5,713 shares during the period. Finally, Bank of America Corp DE lifted its holdings in ON24 by 18.6% in the fourth quarter. Bank of America Corp DE now owns 47,999 shares of the company’s stock valued at $310,000 after acquiring an additional 7,531 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.