ON24, Inc. (NYSE:ONTF) Stake Lifted by P.A.W. Capital Corp

P.A.W. Capital Corp lifted its position in shares of ON24, Inc. (NYSE:ONTF - Free Report) by 113.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 160,000 shares of the company's stock after purchasing an additional 85,000 shares during the quarter. ON24 comprises approximately 2.1% of P.A.W. Capital Corp's holdings, making the stock its 12th largest holding. P.A.W. Capital Corp owned approximately 0.38% of ON24 worth $832,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in ON24 by 43.5% during the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company's stock worth $5,307,000 after acquiring an additional 249,045 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in ON24 by 50.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company's stock worth $2,351,000 after acquiring an additional 122,700 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in ON24 during the 4th quarter worth approximately $777,000. Norges Bank acquired a new position in ON24 during the 4th quarter worth approximately $428,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in ON24 by 15.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company's stock worth $3,166,000 after acquiring an additional 66,022 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Lake Lp Lynrock purchased 47,692 shares of the stock in a transaction dated Monday, June 9th. The stock was acquired at an average cost of $5.57 per share, for a total transaction of $265,644.44. Following the acquisition, the insider owned 8,212,732 shares of the company's stock, valued at $45,744,917.24. The trade was a 0.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sharat Sharan sold 61,467 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $5.47, for a total value of $336,224.49. Following the completion of the sale, the insider owned 3,550,917 shares of the company's stock, valued at $19,423,515.99. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 461,546 shares of company stock worth $2,547,766 and sold 213,593 shares worth $1,168,172. Corporate insiders own 33.00% of the company's stock.

ON24 Stock Performance

Shares of ONTF traded up $0.08 during trading on Thursday, reaching $5.50. The company's stock had a trading volume of 135,834 shares, compared to its average volume of 143,405. The company has a fifty day moving average of $5.27 and a two-hundred day moving average of $5.73. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.04.

ON24 announced that its Board of Directors has authorized a share buyback plan on Monday, May 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 22.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird reduced their price target on ON24 from $7.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Canaccord Genuity Group cut their target price on ON24 from $9.00 to $5.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.