ON24 (NYSE:ONTF) Given “Hold” Rating at Needham & Company LLC

ON24 (NYSE:ONTF)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

ON24 Stock Down 0.1 %

Shares of ONTF opened at $6.09 on Wednesday. ON24 has a twelve month low of $5.37 and a twelve month high of $7.48. The stock has a market cap of $253.45 million, a PE ratio of -5.85 and a beta of 0.52. The business’s 50-day moving average price is $6.60 and its 200-day moving average price is $6.42.

Insiders Place Their Bets

In other news, Director Dominique Trempont sold 4,250 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $6.94, for a total transaction of $29,495.00. Following the sale, the director now owns 254,600 shares in the company, valued at approximately $1,766,924. This trade represents a 1.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven Vattuone sold 4,269 shares of ON24 stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.63, for a total value of $28,303.47. Following the sale, the chief financial officer now directly owns 579,322 shares of the company’s stock, valued at approximately $3,840,904.86. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,637 shares of company stock worth $1,110,727 in the last three months. 32.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ON24

Several institutional investors have recently bought and sold shares of ONTF. Squarepoint Ops LLC boosted its holdings in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after acquiring an additional 5,713 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of ON24 by 11.9% during the fourth quarter. Two Sigma Investments LP now owns 175,366 shares of the company’s stock valued at $1,133,000 after purchasing an additional 18,647 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of ON24 by 11.4% during the fourth quarter. Two Sigma Advisers LP now owns 256,900 shares of the company’s stock valued at $1,660,000 after purchasing an additional 26,200 shares during the last quarter. Millennium Management LLC boosted its position in shares of ON24 by 84.8% in the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company’s stock worth $920,000 after purchasing an additional 65,322 shares in the last quarter. Finally, Circumference Group LLC boosted its position in shares of ON24 by 15.9% in the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock worth $2,547,000 after purchasing an additional 54,000 shares in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

About ON24

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.