ON24, Inc. (NYSE:ONTF) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analysts currently give ON24, Inc. a consensus rating of "Hold", with an average 12-month price objective of $5.33.
• Insider sales of ON24 shares have occurred recently, with one insider selling 32,159 shares for approximately $178,482 and another selling 4,608 shares for about $25,436.
• Institutional ownership of ON24 is high, with 83.93% of the stock held by hedge funds and institutional investors, reflecting considerable investor interest in the company.

ON24, Inc. (NYSE:ONTF - Get Free Report) has been assigned an average rating of "Hold" from the five analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.3333.

Separately, Wall Street Zen lowered shares of ON24 from a "buy" rating to a "hold" rating in a report on Friday, September 5th.

ON24 Trading Up 1.3%

Shares of ONTF opened at $6.03 on Friday. The firm has a market cap of $254.92 million, a P/E ratio of -7.01 and a beta of 0.66. ON24 has a 12-month low of $4.35 and a 12-month high of $7.03. The company's 50-day moving average price is $5.38 and its 200 day moving average price is $5.27.

Insider Activity at ON24

In related news, insider Sharat Sharan sold 32,159 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $5.55, for a total value of $178,482.45. Following the sale, the insider directly owned 3,620,863 shares in the company, valued at approximately $20,095,789.65. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayesh Sahasi sold 4,608 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $5.52, for a total transaction of $25,436.16. Following the completion of the sale, the insider owned 737,913 shares in the company, valued at approximately $4,073,279.76. This trade represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,599 shares of company stock valued at $1,220,718 in the last quarter. Corporate insiders own 33.00% of the company's stock.

Institutional Trading of ON24

A number of institutional investors and hedge funds have recently bought and sold shares of ONTF. Public Employees Retirement System of Ohio increased its stake in ON24 by 228.5% during the second quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company's stock worth $66,000 after purchasing an additional 8,515 shares during the period. Brevan Howard Capital Management LP purchased a new stake in ON24 during the second quarter worth about $78,000. Squarepoint Ops LLC increased its stake in ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock worth $102,000 after purchasing an additional 5,713 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ON24 by 24.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company's stock worth $111,000 after purchasing an additional 4,004 shares during the period. Finally, AQR Capital Management LLC increased its stake in ON24 by 15.9% during the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock worth $113,000 after purchasing an additional 2,989 shares during the period. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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