ON24, Inc. (NYSE:ONTF - Get Free Report) CFO Steven Vattuone sold 4,051 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $5.64, for a total transaction of $22,847.64. Following the completion of the transaction, the chief financial officer now owns 671,036 shares in the company, valued at approximately $3,784,643.04. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Steven Vattuone also recently made the following trade(s):
- On Wednesday, June 4th, Steven Vattuone sold 4,692 shares of ON24 stock. The stock was sold at an average price of $5.54, for a total transaction of $25,993.68.
- On Tuesday, June 3rd, Steven Vattuone sold 7,316 shares of ON24 stock. The stock was sold at an average price of $5.60, for a total transaction of $40,969.60.
ON24 Trading Down 2.0%
Shares of ONTF traded down $0.11 on Wednesday, reaching $5.49. 192,636 shares of the company's stock were exchanged, compared to its average volume of 137,079. 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 $233.19 million, a P/E ratio of -5.28 and a beta of 0.56. The business has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $5.90.
ON24 announced that its Board of Directors has approved a stock buyback plan on Monday, May 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 22.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.
Institutional Investors Weigh In On ON24
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in ON24 by 43.5% in the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company's stock valued at $5,307,000 after purchasing an additional 249,045 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in ON24 by 50.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company's stock valued at $2,351,000 after purchasing an additional 122,700 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in ON24 in the fourth quarter valued at approximately $777,000. P.A.W. Capital Corp bought a new stake in ON24 in the fourth quarter valued at approximately $484,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of ON24 by 15.6% during the fourth 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. Institutional investors own 83.93% of the company's stock.
Analyst Upgrades and Downgrades
ONTF has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird dropped their price target on shares of ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. William Blair reissued a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their price target on shares of ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.33.
View Our Latest Report on ONTF
About ON24
(
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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.
Further Reading
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