Charles Schwab Investment Management Inc. Acquires 2,189 Shares of ON24, Inc. (NYSE:ONTF)

Charles Schwab Investment Management Inc. increased its stake in ON24, Inc. (NYSE:ONTF) by 0.8% in the 4th quarter, HoldingsChannel reports. The fund owned 285,071 shares of the company’s stock after acquiring an additional 2,189 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ON24 were worth $1,842,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares during the last quarter. R Squared Ltd purchased a new stake in ON24 during the 4th quarter valued at $153,000. FMR LLC lifted its position in ON24 by 45.0% in the third quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after buying an additional 8,528 shares during the last quarter. Jane Street Group LLC boosted its stake in ON24 by 91.2% during the third quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after buying an additional 29,148 shares during the period. Finally, P.A.W. Capital Corp purchased a new position in ON24 during the fourth quarter worth $484,000. 83.93% of the stock is owned by institutional investors.

Insider Activity at ON24

In other ON24 news, major shareholder Lake Lp Lynrock acquired 27,921 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $5.57 per share, with a total value of $155,519.97. Following the completion of the purchase, the insider now directly owns 7,357,680 shares in the company, valued at $40,982,277.60. The trade was a 0.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Wednesday, January 15th. The stock was 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 in the company, valued at approximately $1,656,640. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 206,529 shares of company stock worth $1,174,541 and sold 184,617 shares worth $1,111,394. 32.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ONTF has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. William Blair reissued a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th.

ON24 Trading Down 4.2 %

Shares of ONTF opened at $5.36 on Friday. The firm has a fifty day moving average price of $6.19 and a 200-day moving average price of $6.32. The firm has a market capitalization of $226.65 million, a P/E ratio of -5.15 and a beta of 0.55. ON24, Inc. has a 12-month low of $5.22 and a 12-month high of $7.29.

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.