ON24 (NYSE:ONTF) Earns Hold Rating from Needham & Company LLC

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

ON24 Stock Down 4.2 %

NYSE ONTF opened at $5.55 on Wednesday. The company has a market capitalization of $230.95 million, a price-to-earnings ratio of -5.33 and a beta of 0.52. ON24 has a twelve month low of $5.37 and a twelve month high of $7.38. The stock has a fifty day simple moving average of $6.57 and a 200 day simple moving average of $6.41.

Insider Activity at ON24

In other ON24 news, insider Jayesh Sahasi sold 6,457 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $6.69, for a total transaction of $43,197.33. Following the completion of the sale, the insider now directly owns 700,479 shares in the company, valued at approximately $4,686,204.51. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $224,371.80. Following the sale, the insider now owns 3,113,728 shares of the company’s stock, valued at approximately $19,305,113.60. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,637 shares of company stock worth $1,110,727 over the last three months. Company insiders own 32.30% of the company’s stock.

Institutional Trading of ON24

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after buying an additional 3,891 shares during the period. Squarepoint Ops LLC grew its stake in shares of ON24 by 56.6% in the 4th 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 during the period. Wells Fargo & Company MN grew its stake in shares of ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after buying an additional 3,518 shares during the period. Gladius Capital Management LP grew its stake in shares of ON24 by 151.2% in the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after buying an additional 13,755 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of ON24 in the 4th quarter valued at about $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.