ON24 (NYSE:ONTF) Stock Price Up 0.1%

Posted by on Apr 8th, 2023

ON24, Inc. (NYSE:ONTF – Get Rating)’s stock price rose 0.1% during mid-day trading on Friday . The stock traded as high as $8.68 and last traded at $8.61. Approximately 233,199 shares traded hands during trading, a decline of 35% from the average daily volume of 356,531 shares. The stock had previously closed at $8.60.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “neutral” rating and set a $9.00 price target on shares of ON24 in a research note on Wednesday, March 1st.

ON24 Trading Up 0.1 %

The firm’s 50 day moving average is $8.87 and its two-hundred day moving average is $8.45. The stock has a market cap of $408.37 million, a price-to-earnings ratio of -7.12 and a beta of 0.06.

Insider Transactions at ON24

In other news, CFO Steven Vattuone sold 11,229 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $7.61, for a total transaction of $85,452.69. Following the completion of the sale, the chief financial officer now owns 249,092 shares in the company, valued at approximately $1,895,590.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Steven Vattuone sold 11,229 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $7.61, for a total transaction of $85,452.69. Following the transaction, the chief financial officer now directly owns 249,092 shares of the company’s stock, valued at approximately $1,895,590.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO James Blackie sold 17,823 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $7.61, for a total value of $135,633.03. Following the transaction, the executive now directly owns 194,178 shares in the company, valued at $1,477,694.58. The disclosure for this sale can be found here. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On ON24

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EVR Research LP raised its position in shares of ON24 by 5.1% in the 3rd quarter. EVR Research LP now owns 593,189 shares of the company’s stock valued at $5,220,000 after purchasing an additional 28,600 shares in the last quarter. Petrus Trust Company LTA acquired a new position in shares of ON24 in the 3rd quarter valued at approximately $91,000. Federated Hermes Inc. raised its position in shares of ON24 by 94.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,314,326 shares of the company’s stock valued at $12,473,000 after purchasing an additional 637,755 shares in the last quarter. Bank of Montreal Can raised its position in shares of ON24 by 23.6% in the 4th quarter. Bank of Montreal Can now owns 557,000 shares of the company’s stock valued at $4,818,000 after purchasing an additional 106,268 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of ON24 in the 4th quarter valued at approximately $155,000. 78.61% of the stock is owned by institutional investors and hedge funds.

About ON24

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ON24, Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Experience products, such as ON24 Elite, a live and interactive webinar experience; ON24 Breakouts, a live breakout room experience that facilitates networking, collaboration and interactivity between users; ON24 Go Live, a live, interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; ON24 Virtual Confrence, a live and large scale virtual event experience; ON24 Engagement Hub, a rich multimedia content experience; and ON24 Target, a personalized and curated rich multimedia content experience, as well as solutions; ON24 Intelligence, an analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; and ON24 Connect, an ecosystem of third-party application integrations.

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