ON24’s (ONTF) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of ON24 (NYSE:ONTF) in a research report sent to investors on Wednesday,Benzinga reports.

ON24 Stock Performance

NYSE:ONTF opened at $5.59 on Wednesday. The stock has a 50-day simple moving average of $6.55 and a 200-day simple moving average of $6.41. The stock has a market cap of $232.83 million, a P/E ratio of -5.38 and a beta of 0.52. ON24 has a 1 year low of $5.37 and a 1 year high of $7.38.

Insider Transactions at ON24

In other news, insider Jayesh Sahasi sold 6,457 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $6.69, for a total transaction of $43,197.33. Following the completion of the transaction, the insider now directly owns 700,479 shares of the company’s stock, valued at approximately $4,686,204.51. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dominique Trempont sold 4,250 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $6.98, for a total value of $29,665.00. Following the transaction, the director now directly owns 263,100 shares of the company’s stock, valued at approximately $1,836,438. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,637 shares of company stock valued at $1,110,727. 32.30% of the stock is currently owned by corporate insiders.

Institutional Trading of ON24

A number of large investors have recently made changes to their positions in ONTF. Gladius Capital Management LP boosted its position in shares of ON24 by 151.2% in the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after purchasing an additional 13,755 shares during the period. FMR LLC boosted its position in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after purchasing an additional 8,528 shares during the period. Jane Street Group LLC boosted its position in shares of ON24 by 91.2% in the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock valued at $374,000 after purchasing an additional 29,148 shares during the period. Barclays PLC boosted its position in shares of ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after purchasing an additional 33,352 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares during the period. 83.93% of the stock is owned by institutional investors and hedge funds.

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.