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

JPMorgan Chase & Co. raised its holdings in shares of ON24, Inc. (NYSE:ONTF - Free Report) by 43.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 821,461 shares of the company's stock after buying an additional 249,045 shares during the period. JPMorgan Chase & Co. owned about 1.97% of ON24 worth $5,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONTF. FMR LLC grew its position 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 during the last quarter. Jane Street Group LLC lifted its stake in ON24 by 91.2% in the third quarter. Jane Street Group LLC now owns 61,122 shares of the company's stock valued at $374,000 after buying an additional 29,148 shares in the last quarter. Barclays PLC lifted its stake in ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company's stock valued at $624,000 after acquiring an additional 33,352 shares in the last quarter. SG Americas Securities LLC raised its stake 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 purchasing an additional 3,891 shares in the last quarter. Finally, R Squared Ltd bought a new stake in ON24 in the fourth quarter valued at approximately $153,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Sharat Sharan sold 39,196 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $5.23, for a total value of $204,995.08. Following the transaction, the insider now directly owns 3,164,092 shares in the company, valued at $16,548,201.16. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Lake Lp Lynrock purchased 27,921 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $5.57 per share, for a total transaction of $155,519.97. Following the purchase, the insider now directly owns 7,357,680 shares in the company, valued at approximately $40,982,277.60. The trade was a 0.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 206,529 shares of company stock worth $1,174,541 and sold 160,381 shares worth $905,599. 32.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed 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 report on Wednesday, February 26th.

ON24 Stock Down 1.3 %

Shares of ON24 stock traded down $0.06 during trading on Monday, reaching $4.46. The company's stock had a trading volume of 114,750 shares, compared to its average volume of 140,768. The firm's 50-day moving average is $5.52 and its two-hundred day moving average is $6.16. ON24, Inc. has a 52-week low of $4.35 and a 52-week high of $7.04. The company has a market cap of $188.77 million, a price-to-earnings ratio of -4.29 and a beta of 0.55.

ON24 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.