ON24’s (ONTF) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of ON24 (NYSE:ONTF) in a report published on Wednesday morning,Benzinga reports.

ON24 Trading Down 0.4 %

Shares of ON24 stock opened at $6.42 on Wednesday. ON24 has a 1-year low of $5.37 and a 1-year high of $8.35. The firm has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $6.32. The stock has a market capitalization of $267.56 million, a price-to-earnings ratio of -6.18 and a beta of 0.50.

Insider Buying and Selling at ON24

In related news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.40, for a total transaction of $27,200.00. Following the transaction, the director now owns 258,850 shares of the company’s stock, valued at approximately $1,656,640. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Vattuone sold 4,383 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total transaction of $27,569.07. Following the completion of the sale, the chief financial officer now directly owns 583,591 shares of the company’s stock, valued at approximately $3,670,787.39. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,137 shares of company stock worth $1,010,089 over the last ninety days. Company insiders own 32.30% of the company’s stock.

Institutional Investors Weigh In On ON24

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in ON24 in the 3rd quarter valued at $62,000. Marshall Wace LLP acquired a new stake in ON24 in the 2nd quarter valued at about $72,000. The Manufacturers Life Insurance Company increased its position in ON24 by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after acquiring an additional 2,158 shares in the last quarter. Gladius Capital Management LP raised its stake in shares of ON24 by 151.2% in the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after acquiring an additional 13,755 shares during the last quarter. Finally, FMR LLC lifted its position in shares of ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after purchasing an additional 8,528 shares in the last quarter. Institutional investors and hedge funds 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.