ON24 (NYSE:ONTF) Given New $6.00 Price Target at JPMorgan Chase & Co.

ON24 (NYSE:ONTF) had its price target cut by JPMorgan Chase & Co. from $7.00 to $6.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Wednesday.

ON24 Stock Performance

ON24 stock opened at $5.80 on Wednesday. The firm has a market cap of $241.58 million, a P/E ratio of -5.58 and a beta of 0.52. ON24 has a 52 week low of $5.37 and a 52 week high of $7.48. The business’s fifty day moving average is $6.59 and its two-hundred day moving average is $6.42.

Insider Transactions at ON24

In related news, insider Sharat Sharan sold 36,189 shares of the company’s stock in a transaction dated 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 owns 3,113,728 shares in the company, valued at approximately $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 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 Tuesday, February 18th. The shares were sold at an average price of $6.94, for a total value of $29,495.00. Following the completion of the sale, the director now owns 254,600 shares of the company’s stock, valued at $1,766,924. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,637 shares of company stock worth $1,110,727 over the last 90 days. 32.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ON24

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in 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 purchasing an additional 18,372 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 249,045 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in 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 purchasing an additional 66,022 shares during the last quarter. Horrell Capital Management Inc. increased its holdings 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 worth $2,547,000 after acquiring an additional 54,000 shares in the last quarter. Finally, Circumference Group LLC increased its holdings in shares of ON24 by 15.9% in the fourth quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock worth $2,547,000 after acquiring an additional 54,000 shares in the last quarter. Institutional investors 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.