JPMorgan Chase & Co. Purchases 249,045 Shares of ON24, Inc. (NYSE:ONTF)

JPMorgan Chase & Co. increased its position in ON24, Inc. (NYSE:ONTF - Free Report) by 43.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 821,461 shares of the company's stock after purchasing an additional 249,045 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.97% of ON24 worth $5,307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of ON24 by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company's stock worth $1,842,000 after purchasing an additional 2,189 shares during the period. SG Americas Securities LLC grew its position in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock worth $91,000 after buying an additional 3,891 shares during the period. FMR LLC increased its stake in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company's stock valued at $168,000 after acquiring an additional 8,528 shares during the last quarter. American Century Companies Inc. increased its stake in shares of ON24 by 39.2% in the 4th quarter. American Century Companies Inc. now owns 31,162 shares of the company's stock valued at $201,000 after acquiring an additional 8,776 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of ON24 by 13.6% in the 4th quarter. Bank of New York Mellon Corp now owns 85,356 shares of the company's stock valued at $551,000 after acquiring an additional 10,192 shares during the period. 83.93% of the stock is owned by institutional investors.

ON24 Stock Performance

NYSE ONTF traded up $0.11 during trading hours on Wednesday, reaching $4.71. 5,693 shares of the company's stock were exchanged, compared to its average volume of 134,789. ON24, Inc. has a one year low of $4.35 and a one year high of $7.03. The company's 50-day moving average is $5.43 and its two-hundred day moving average is $6.14. The company has a market capitalization of $199.35 million, a price-to-earnings ratio of -4.53 and a beta of 0.55.

Insider Transactions at ON24

In related news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $6.94, for a total transaction of $29,495.00. Following the completion of the transaction, the director now directly owns 254,600 shares in the company, valued at approximately $1,766,924. This trade represents a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anil Arora purchased 8,661 shares of ON24 stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $5.65 per share, with a total value of $48,934.65. Following the transaction, the director now owns 126,048 shares in the company, valued at approximately $712,171.20. The trade was a 7.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 206,529 shares of company stock valued at $1,174,541 and sold 155,384 shares valued at $873,019. 32.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ONTF shares. William Blair reaffirmed a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of ON24 in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on ON24 from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th.

ON24 Company 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.