Geode Capital Management LLC Trims Stock Position in ON24, Inc. (NYSE:ONTF)

Geode Capital Management LLC lowered its position in ON24, Inc. (NYSE:ONTF) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 743,544 shares of the company’s stock after selling 11,587 shares during the quarter. Geode Capital Management LLC’s holdings in ON24 were worth $4,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in ON24 by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock worth $8,830,000 after buying an additional 22,577 shares during the period. Renaissance Technologies LLC grew its stake in ON24 by 12.9% in the second quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after purchasing an additional 83,000 shares during the last quarter. Acadian Asset Management LLC raised its holdings in ON24 by 19.2% in the second quarter. Acadian Asset Management LLC now owns 559,602 shares of the company’s stock worth $3,362,000 after purchasing an additional 90,058 shares in the last quarter. Barclays PLC boosted its holdings in shares of ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after buying an additional 33,352 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ON24 by 14.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,089 shares of the company’s stock valued at $590,000 after buying an additional 12,400 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

ON24 Price Performance

Shares of ONTF stock opened at $6.59 on Monday. The stock’s fifty day moving average price is $6.53 and its 200 day moving average price is $6.29. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $8.35. The company has a market cap of $274.48 million, a price-to-earnings ratio of -6.34 and a beta of 0.51.

Insiders Place Their Bets

In other news, Director Dominique Trempont sold 4,250 shares of ON24 stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $6.98, for a total transaction of $29,665.00. Following the completion of the sale, the director now directly owns 263,100 shares in the company, valued at approximately $1,836,438. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven Vattuone sold 4,383 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total value of $27,569.07. Following the completion of the transaction, the chief financial officer now directly owns 583,591 shares in the company, valued at approximately $3,670,787.39. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,176 shares of company stock valued at $583,278. 32.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Friday, November 8th.

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.