Federated Hermes Inc. Lowers Stock Holdings in ON24, Inc. (NYSE:ONTF)

Posted by Defense World Staff on Aug 13th, 2023

Federated Hermes Inc. decreased its position in shares of ON24, Inc. (NYSE:ONTF – Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,254,486 shares of the company’s stock after selling 17,009 shares during the quarter. Federated Hermes Inc. owned approximately 2.71% of ON24 worth $10,989,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of ON24 by 73.6% during the 1st quarter. Barclays PLC now owns 36,785 shares of the company’s stock valued at $323,000 after buying an additional 15,592 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in ON24 in the 4th quarter worth $135,000. State of Wyoming purchased a new stake in ON24 in the 4th quarter worth $26,000. Jane Street Group LLC purchased a new stake in ON24 in the 4th quarter worth $544,000. Finally, State of Wisconsin Investment Board lifted its stake in ON24 by 20.9% in the 4th quarter. State of Wisconsin Investment Board now owns 89,453 shares of the company’s stock worth $772,000 after purchasing an additional 15,486 shares in the last quarter. Hedge funds and other institutional investors own 78.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on shares of ON24 from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Read Our Latest Stock Analysis on ONTF

Insider Activity

In other news, Director Dominique Trempont sold 25,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $7.79, for a total transaction of $194,750.00. Following the sale, the director now directly owns 291,488 shares in the company, valued at approximately $2,270,691.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO James Blackie sold 8,711 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $7.83, for a total value of $68,207.13. Following the sale, the executive now directly owns 385,281 shares of the company’s stock, valued at approximately $3,016,750.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dominique Trempont sold 25,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $7.79, for a total transaction of $194,750.00. Following the completion of the sale, the director now directly owns 291,488 shares in the company, valued at $2,270,691.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,280 shares of company stock worth $1,481,134. 27.30% of the stock is currently owned by corporate insiders.

ON24 Stock Performance

Shares of NYSE ONTF opened at $6.85 on Friday. The firm’s 50-day moving average price is $8.33 and its 200-day moving average price is $8.51. ON24, Inc. has a 12-month low of $6.69 and a 12-month high of $11.20.

ON24 Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 22nd were given a dividend of $1.09 per share. This represents a dividend yield of 12.67%. The ex-dividend date was Friday, May 19th.

ON24 Company Profile

(Free Report)

ON24, Inc provides a cloud-based digital 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 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 Forums, a live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, a live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, a live and large scale managed virtual event experience.