Bank of New York Mellon Corp Acquires 10,192 Shares of ON24, Inc. (NYSE:ONTF)

Bank of New York Mellon Corp boosted its holdings in shares of ON24, Inc. (NYSE:ONTF) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,356 shares of the company’s stock after purchasing an additional 10,192 shares during the quarter. Bank of New York Mellon Corp’s holdings in ON24 were worth $551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONTF. SG Americas Securities LLC raised its position in shares of ON24 by 38.1% during the fourth 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 last quarter. R Squared Ltd acquired a new position in ON24 in the 4th quarter valued at approximately $153,000. FMR LLC raised its holdings in ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares in the last quarter. Jane Street Group LLC lifted its position in shares of ON24 by 91.2% in the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after acquiring an additional 29,148 shares during the period. Finally, P.A.W. Capital Corp acquired a new stake in shares of ON24 during the 4th quarter worth approximately $484,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Steven Vattuone sold 18,376 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $6.59, for a total transaction of $121,097.84. Following the sale, the chief financial officer now directly owns 544,386 shares in the company, valued at $3,587,503.74. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lake Lp Lynrock acquired 27,921 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $5.57 per share, with a total value of $155,519.97. Following the transaction, the insider now owns 7,357,680 shares in the company, valued at approximately $40,982,277.60. The trade was a 0.38 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 206,529 shares of company stock worth $1,174,541 and sold 184,617 shares worth $1,111,394. Corporate insiders own 32.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. William Blair reaffirmed a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

ON24 Price Performance

ON24 stock opened at $5.58 on Friday. The business has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $6.32. The company has a market capitalization of $235.96 million, a PE ratio of -5.36 and a beta of 0.55. ON24, Inc. has a one year low of $5.22 and a one year high of $7.38.

ON24 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.