ON24 (NYSE:ONTF) Rating Increased to Buy at Wall Street Zen

Key Points

• ON24 has received an upgrade from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting a positive outlook from investment analysts.
• Despite the upgrade, Weiss Ratings maintains a "sell (d-)" rating on the stock, indicating varied opinions on its performance among analysts.
• Insiders have sold a total of 163,132 shares of ON24 stock in the past ninety days, raising concerns about insider confidence in the company's prospects.

ON24 (NYSE:ONTF - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ON24 in a report on Saturday, September 27th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $5.33.

ON24 Stock Up 1.9%

ON24 stock opened at $5.69 on Friday. ON24 has a 52 week low of $4.35 and a 52 week high of $7.03. The company has a market capitalization of $240.91 million, a price-to-earnings ratio of -6.62 and a beta of 0.66. The stock has a 50-day moving average price of $5.43 and a 200 day moving average price of $5.27.

Insiders Place Their Bets

In other news, insider Sharat Sharan sold 32,159 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $5.55, for a total value of $178,482.45. Following the completion of the sale, the insider directly owned 3,620,863 shares in the company, valued at $20,095,789.65. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO James Blackie sold 4,592 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $5.52, for a total value of $25,347.84. Following the completion of the sale, the executive owned 512,852 shares of the company's stock, valued at $2,830,943.04. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,132 shares of company stock valued at $884,493 over the last ninety days. 33.00% of the stock is owned by corporate insiders.

Institutional Trading of ON24

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of 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 in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of ON24 during the second quarter worth approximately $78,000. Squarepoint Ops LLC increased its position in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of 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 in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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