ON24 (NYSE:ONTF) Given Market Perform Rating at William Blair

ON24 (NYSE:ONTF)‘s stock had its “market perform” rating reiterated by investment analysts at William Blair in a note issued to investors on Wednesday,RTT News reports.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday.

ON24 Price Performance

NYSE:ONTF traded down $0.31 during trading hours on Wednesday, reaching $5.74. 74,968 shares of the company were exchanged, compared to its average volume of 94,385. ON24 has a 1-year low of $5.37 and a 1-year high of $7.48. The company has a market capitalization of $238.87 million, a P/E ratio of -5.55 and a beta of 0.52. The business has a 50 day moving average of $6.60 and a 200 day moving average of $6.42.

Insider Buying and Selling at ON24

In related news, Director Dominique Trempont sold 4,250 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $6.94, for a total transaction of $29,495.00. Following the sale, the director now directly owns 254,600 shares in the company, valued at approximately $1,766,924. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sharat Sharan sold 36,189 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $6.20, for a total transaction of $224,371.80. Following the sale, the insider now owns 3,113,728 shares in the company, valued at approximately $19,305,113.60. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,637 shares of company stock valued at $1,110,727 over the last quarter. 32.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ON24

Several large investors have recently added to or reduced their stakes in ONTF. SG Americas Securities LLC grew its holdings in shares of ON24 by 38.1% during the fourth 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 in the last quarter. Squarepoint Ops LLC boosted its stake in ON24 by 56.6% in the fourth 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 in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after acquiring an additional 3,518 shares during the last quarter. Gladius Capital Management LP grew its holdings in shares of ON24 by 151.2% during 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 last quarter. Finally, R Squared Ltd acquired a new stake in ON24 in the fourth quarter valued at approximately $153,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Company 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.