ON24’s (ONTF) “Market Perform” Rating Reiterated at William Blair

William Blair reissued their market perform rating on shares of ON24 (NYSE:ONTF) in a research note published on Wednesday morning,RTT News reports.

ONTF has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research report on Wednesday.

ON24 Stock Up 0.5 %

Shares of ON24 stock opened at $5.59 on Wednesday. The stock has a market capitalization of $232.83 million, a P/E ratio of -5.38 and a beta of 0.52. The company has a 50-day simple moving average of $6.55 and a 200 day simple moving average of $6.41. ON24 has a 12-month low of $5.37 and a 12-month high of $7.38.

Insider Buying and Selling

In related news, insider Jayesh Sahasi sold 6,457 shares of ON24 stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $6.69, for a total transaction of $43,197.33. Following the transaction, the insider now owns 700,479 shares of the company’s stock, valued at $4,686,204.51. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Vattuone sold 7,538 shares of ON24 stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.69, for a total transaction of $50,429.22. Following the transaction, the chief financial officer now directly owns 568,435 shares in the company, valued at $3,802,830.15. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,637 shares of company stock valued at $1,110,727 in the last 90 days. 32.30% of the stock is owned by insiders.

Institutional Trading of ON24

Several hedge funds have recently bought and sold shares of ONTF. SG Americas Securities LLC raised its holdings in ON24 by 38.1% during the 4th 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 during the period. Squarepoint Ops LLC raised its holdings in ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after buying an additional 5,713 shares during the period. Wells Fargo & Company MN raised its holdings in ON24 by 25.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after buying an additional 3,518 shares during the period. Gladius Capital Management LP raised its holdings in ON24 by 151.2% during the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after buying an additional 13,755 shares during the period. Finally, R Squared Ltd acquired a new stake in ON24 during the 4th quarter worth approximately $153,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

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.