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

ON24 (NYSE:ONTF)‘s stock had its “hold” rating restated by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

ON24 Trading Up 0.2 %

Shares of ON24 stock opened at $6.46 on Wednesday. The stock has a fifty day simple moving average of $6.56 and a 200 day simple moving average of $6.32. ON24 has a 12-month low of $5.37 and a 12-month high of $8.35. The company has a market capitalization of $268.85 million, a P/E ratio of -6.21 and a beta of 0.50.

Insiders Place Their Bets

In other ON24 news, CFO Steven Vattuone sold 4,383 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $6.29, for a total value of $27,569.07. Following the transaction, the chief financial officer now owns 583,591 shares of the company’s stock, valued at approximately $3,670,787.39. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayesh Sahasi sold 4,089 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total value of $25,719.81. Following the transaction, the insider now directly owns 713,460 shares in the company, valued at $4,487,663.40. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,365 shares of company stock valued at $972,996. Insiders own 32.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ONTF. Bank of New York Mellon Corp lifted its position in shares of ON24 by 14.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,089 shares of the company’s stock valued at $590,000 after buying an additional 12,400 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ON24 by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock valued at $8,830,000 after buying an additional 22,577 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of ON24 by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after buying an additional 83,000 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of ON24 during the 2nd quarter valued at $72,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of ON24 by 8.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock valued at $395,000 after buying an additional 5,337 shares during the last quarter. Hedge funds and other institutional investors 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.