ON24’s (ONTF) Hold Rating Reaffirmed at Needham & Company LLC

ON24 (NYSE:ONTF)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

ON24 Stock Up 2.1 %

Shares of ONTF opened at $6.32 on Wednesday. The company has a market cap of $263.23 million, a P/E ratio of -6.08 and a beta of 0.50. ON24 has a fifty-two week low of $5.37 and a fifty-two week high of $8.35. The firm’s 50 day moving average price is $6.57 and its 200 day moving average price is $6.32.

Insider Activity at ON24

In other ON24 news, CFO Steven Vattuone sold 6,624 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $6.68, for a total value of $44,248.32. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jayesh Sahasi sold 5,047 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $7.00, for a total value of $35,329.00. Following the sale, the insider now directly owns 692,045 shares in the company, valued at $4,844,315. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,176 shares of company stock worth $748,624. Company insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of ON24 by 12.9% in the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after purchasing an additional 83,000 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of ON24 in the second quarter valued at approximately $427,000. Barclays PLC grew its position in shares of ON24 by 48.7% during the third quarter. Barclays PLC now owns 101,837 shares of the company’s stock worth $624,000 after acquiring an additional 33,352 shares during the last quarter. Jane Street Group LLC increased its holdings 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 acquiring an additional 29,148 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in ON24 by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock valued at $8,830,000 after purchasing an additional 22,577 shares during the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

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.