ON24 (NYSE:ONTF) Receives “Market Perform” Rating from William Blair

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

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their price target on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday.

ON24 Price Performance

NYSE:ONTF opened at $5.80 on Wednesday. ON24 has a fifty-two week low of $5.37 and a fifty-two week high of $7.48. The stock’s 50-day moving average is $6.59 and its two-hundred day moving average is $6.42. The stock has a market cap of $241.58 million, a PE ratio of -5.58 and a beta of 0.52.

Insider Buying and Selling

In related news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $6.94, for a total value of $29,495.00. Following the completion of the sale, the director now directly owns 254,600 shares in the company, valued at approximately $1,766,924. The trade was a 1.64 % decrease in their position. The transaction 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 business’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 completion of the sale, the chief financial officer now owns 568,435 shares of the company’s stock, 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 ninety days, insiders sold 168,637 shares of company stock worth $1,110,727. 32.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ONTF. JPMorgan Chase & Co. lifted its holdings in shares of ON24 by 43.5% during the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after buying an additional 249,045 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of ON24 by 50.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company’s stock worth $2,351,000 after buying an additional 122,700 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of ON24 during the fourth quarter worth approximately $777,000. P.A.W. Capital Corp acquired a new position in shares of ON24 during the fourth quarter worth approximately $484,000. Finally, Norges Bank acquired a new position in shares of ON24 during the fourth quarter worth approximately $428,000. 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.