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ON24 (NYSE:ONTF) Receives Sell (D-) Rating from Weiss Ratings

ON24 logo with Computer and Technology background

Key Points

  • ON24 (NYSE:ONTF) has received a renewed "sell (D-)" rating from Weiss Ratings, while also being upgraded from a "hold" to a "buy" by Wall Street Zen.
  • As of now, ON24 has an average price target of $5.33 with a market capitalization of $234.44 million.
  • Recent insider trading activity saw CFO Steven Vattuone sell 20,116 shares, indicating a 3.33% decrease in insider ownership.
  • MarketBeat previews top five stocks to own in November.

ON24 (NYSE:ONTF - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded ON24 from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ON24 currently has an average rating of "Reduce" and an average price target of $5.33.

Check Out Our Latest Report on ON24

ON24 Stock Down 0.2%

NYSE:ONTF opened at $5.54 on Wednesday. ON24 has a twelve month low of $4.35 and a twelve month high of $7.03. The stock's 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.27. The firm has a market capitalization of $234.44 million, a price-to-earnings ratio of -6.47 and a beta of 0.66.

Insiders Place Their Bets

In other ON24 news, CFO Steven Vattuone sold 20,116 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $5.54, for a total transaction of $111,442.64. Following the sale, the chief financial officer directly owned 583,594 shares of the company's stock, valued at $3,233,110.76. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jayesh Sahasi sold 4,608 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $5.52, for a total value of $25,436.16. Following the sale, the insider directly owned 737,913 shares in the company, valued at $4,073,279.76. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,132 shares of company stock valued at $884,493 in the last ninety days. Insiders own 33.00% of the company's stock.

Hedge Funds Weigh In On ON24

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its position in ON24 by 18.6% during the 4th quarter. Bank of America Corp DE now owns 47,999 shares of the company's stock worth $310,000 after purchasing an additional 7,531 shares during the period. P.A.W. Capital Corp grew its position in shares of ON24 by 113.3% during the 1st quarter. P.A.W. Capital Corp now owns 160,000 shares of the company's stock valued at $832,000 after acquiring an additional 85,000 shares during the period. R Squared Ltd grew its position in shares of ON24 by 74.6% during the 1st quarter. R Squared Ltd now owns 41,415 shares of the company's stock valued at $215,000 after acquiring an additional 17,693 shares during the period. Nuveen LLC acquired a new stake in shares of ON24 during the 1st quarter valued at about $357,000. Finally, American Century Companies Inc. grew its position in shares of ON24 by 32.6% during the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company's stock valued at $215,000 after acquiring an additional 10,171 shares during the period. 83.93% of the stock is owned by institutional investors and hedge funds.

ON24 Company Profile

(Get Free Report)

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

Analyst Recommendations for ON24 (NYSE:ONTF)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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