ON24 (NYSE:ONTF) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of ON24 (NYSE:ONTF) in a report released on Wednesday,Benzinga reports.

ON24 Stock Down 4.0 %

Shares of ONTF stock opened at $5.80 on Wednesday. The firm has a market capitalization of $241.58 million, a P/E ratio of -5.58 and a beta of 0.52. ON24 has a twelve month low of $5.37 and a twelve month high of $7.48. The stock’s fifty day simple moving average is $6.59 and its 200 day simple moving average is $6.42.

Insider Buying and Selling at ON24

In other news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $6.94, for a total value of $29,495.00. Following the transaction, the director now directly owns 254,600 shares of the company’s stock, valued at $1,766,924. The trade was a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Vattuone sold 7,538 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.69, for a total value of $50,429.22. Following the transaction, the chief financial officer now directly owns 568,435 shares in the company, valued at approximately $3,802,830.15. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,637 shares of company stock worth $1,110,727. Insiders own 32.30% of the company’s stock.

Institutional Trading of ON24

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in ON24 by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,189 shares during the period. Wells Fargo & Company MN lifted its position in shares of ON24 by 25.6% during 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 in the last quarter. SG Americas Securities LLC lifted its position 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 acquiring an additional 3,891 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after acquiring an additional 5,713 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of ON24 by 18.6% during the fourth quarter. Bank of America Corp DE now owns 47,999 shares of the company’s stock worth $310,000 after acquiring an additional 7,531 shares in the last quarter. 83.93% of the stock is owned by 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.