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

Palogic Value Management L.P. decreased its stake in shares of ON24, Inc. (NYSE:ONTF) by 21.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 260,000 shares of the company’s stock after selling 71,800 shares during the period. Palogic Value Management L.P. owned 0.62% of ON24 worth $1,680,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ONTF. SG Americas Securities LLC increased its stake 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 acquiring an additional 3,891 shares during the last quarter. R Squared Ltd bought a new position in ON24 in the 4th quarter worth about $153,000. FMR LLC increased its stake 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 acquiring an additional 8,528 shares during the last quarter. Jane Street Group LLC increased its stake 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 acquiring an additional 29,148 shares during the last quarter. Finally, P.A.W. Capital Corp bought a new position in ON24 in the 4th quarter worth about $484,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Trading Down 2.1 %

Shares of ON24 stock opened at $5.39 on Friday. The firm has a market capitalization of $227.92 million, a PE ratio of -5.18 and a beta of 0.55. The business’s 50-day moving average price is $6.29 and its 200-day moving average price is $6.34. ON24, Inc. has a 12 month low of $5.36 and a 12 month high of $7.38.

Insider Activity

In related news, CFO Steven Vattuone sold 6,624 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $6.68, for a total transaction of $44,248.32. Following the transaction, the chief financial officer now directly owns 544,386 shares in the company, valued at $3,636,498.48. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharat Sharan sold 36,189 shares of the firm’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 transaction, the insider now owns 3,113,728 shares in the company, valued at approximately $19,305,113.60. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have bought 206,529 shares of company stock worth $1,174,541 and have sold 184,617 shares worth $1,111,394. Corporate insiders own 32.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, William Blair reiterated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th.

ON24 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.