BNP Paribas Financial Markets Takes Position in ON24, Inc. (NYSE:ONTF)

BNP Paribas Financial Markets purchased a new stake in shares of ON24, Inc. (NYSE:ONTF - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 120,229 shares of the company's stock, valued at approximately $777,000. BNP Paribas Financial Markets owned about 0.29% of ON24 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ONTF. SG Americas Securities LLC raised its holdings 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 purchasing an additional 3,891 shares during the period. Wells Fargo & Company MN boosted its position in shares of ON24 by 25.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock worth $112,000 after purchasing an additional 3,518 shares in the last quarter. R Squared Ltd bought a new position in shares of ON24 during the 4th quarter worth about $153,000. Susquehanna Fundamental Investments LLC bought a new position in shares of ON24 during the 4th quarter worth about $175,000. Finally, American Century Companies Inc. boosted its position in shares of ON24 by 39.2% during the 4th quarter. American Century Companies Inc. now owns 31,162 shares of the company's stock worth $201,000 after purchasing an additional 8,776 shares in the last quarter. Institutional investors own 83.93% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Lake Lp Lynrock acquired 24,576 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $5.16 per share, for a total transaction of $126,812.16. Following the transaction, the insider now directly owns 7,684,050 shares of the company's stock, valued at approximately $39,649,698. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sharat Sharan sold 31,305 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $5.44, for a total transaction of $170,299.20. Following the sale, the insider now owns 3,208,499 shares in the company, valued at $17,454,234.56. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 363,089 shares of company stock valued at $2,020,688 and have sold 167,556 shares valued at $908,520. Corporate insiders own 33.00% of the company's stock.

ON24 Stock Down 1.1%

Shares of NYSE ONTF traded down $0.06 during mid-day trading on Wednesday, reaching $5.47. 14,518 shares of the company were exchanged, compared to its average volume of 136,683. The company's 50 day moving average price is $5.00 and its 200 day moving average price is $5.93. The stock has a market capitalization of $232.21 million, a PE ratio of -5.25 and a beta of 0.56. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.04.

ON24 declared that its board has approved a share repurchase program on Monday, May 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 22.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONTF. Needham & Company LLC restated a "hold" rating on shares of ON24 in a report on Wednesday, February 26th. William Blair reaffirmed a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Robert W. Baird reduced their target price on shares of ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group reduced their target price on shares of ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.33.

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.