120,229 Shares in ON24, Inc. (NYSE:ONTF) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in ON24, Inc. (NYSE:ONTF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 120,229 shares of the company's stock, valued at approximately $777,000. BNP Paribas Financial Markets owned 0.29% of ON24 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 grew its stake in shares of ON24 by 38.1% in 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 in the last quarter. Wells Fargo & Company MN grew its position in ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock valued at $112,000 after acquiring an additional 3,518 shares in the last quarter. R Squared Ltd acquired a new stake in ON24 in the fourth quarter valued at approximately $153,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ON24 during the fourth quarter valued at approximately $175,000. Finally, American Century Companies Inc. lifted its position in shares of ON24 by 39.2% during the fourth 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 and hedge funds own 83.93% of the company's stock.

Insiders Place Their Bets

In other ON24 news, CFO Steven Vattuone sold 22,047 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $5.63, for a total transaction of $124,124.61. Following the transaction, the chief financial officer now owns 490,800 shares of the company's stock, valued at approximately $2,763,204. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lake Lp Lynrock acquired 27,921 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $5.57 per share, with a total value of $155,519.97. Following the completion of the acquisition, the insider now directly owns 7,357,680 shares of the company's stock, valued at approximately $40,982,277.60. This represents a 0.38% increase in their ownership of the stock. The disclosure for this purchase 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 129,882 shares valued at $703,701. 33.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

ON24 Price Performance

Shares of NYSE:ONTF traded up $0.17 during trading on Tuesday, reaching $5.55. 104,934 shares of the company's stock traded hands, compared to its average volume of 136,809. The company has a 50 day moving average of $5.00 and a 200-day moving average of $5.93. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $7.04. The stock has a market capitalization of $235.52 million, a P/E ratio of -5.33 and a beta of 0.56.

ON24 announced that its board has approved a stock repurchase plan on Monday, May 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 22.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.