Vanguard Group Inc. Cuts Position in ON24, Inc. (NYSE:ONTF)

Vanguard Group Inc. trimmed its position in shares of ON24, Inc. (NYSE:ONTF - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,550,011 shares of the company's stock after selling 104,050 shares during the quarter. Vanguard Group Inc. owned approximately 6.12% of ON24 worth $16,473,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ONTF. Barclays PLC raised its stake in shares of ON24 by 48.7% during the 3rd quarter. Barclays PLC now owns 101,837 shares of the company's stock worth $624,000 after buying an additional 33,352 shares during the last quarter. Jane Street Group LLC raised its position in ON24 by 91.2% during the third quarter. Jane Street Group LLC now owns 61,122 shares of the company's stock worth $374,000 after acquiring an additional 29,148 shares during the last quarter. P.A.W. Capital Corp acquired a new position in ON24 during the fourth quarter worth about $484,000. FMR LLC lifted its holdings in shares of ON24 by 45.0% in the third quarter. FMR LLC now owns 27,483 shares of the company's stock valued at $168,000 after purchasing an additional 8,528 shares in the last quarter. Finally, SG Americas Securities LLC grew its position 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 purchasing an additional 3,891 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ONTF shares. 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 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, William Blair reiterated a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th.

ON24 Stock Up 3.0 %

Shares of ONTF traded up $0.13 on Tuesday, hitting $4.59. 149,015 shares of the stock traded hands, compared to its average volume of 140,821. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.04. The stock's 50 day moving average is $5.43 and its two-hundred day moving average is $6.14. The firm has a market capitalization of $194.44 million, a P/E ratio of -4.42 and a beta of 0.55.

Insider Buying and Selling at ON24

In related news, CRO James Blackie sold 16,767 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $5.54, for a total transaction of $92,889.18. Following the completion of the transaction, the executive now owns 369,764 shares of the company's stock, valued at approximately $2,048,492.56. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Vattuone sold 6,146 shares of ON24 stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $6.68, for a total transaction of $41,055.28. Following the completion of the transaction, the chief financial officer now owns 534,386 shares in the company, valued at approximately $3,569,698.48. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 206,529 shares of company stock worth $1,174,541 and sold 155,384 shares worth $873,019. 32.30% of the stock is currently owned by insiders.

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.