Norges Bank Acquires New Shares in ON24, Inc. (NYSE:ONTF)

Norges Bank purchased a new stake in ON24, Inc. (NYSE:ONTF - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 66,200 shares of the company's stock, valued at approximately $428,000. Norges Bank owned approximately 0.16% of ON24 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ONTF. SG Americas Securities LLC raised its holdings in ON24 by 38.1% during the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock worth $91,000 after buying an additional 3,891 shares during the last quarter. R Squared Ltd bought a new stake in ON24 during the 4th quarter worth approximately $153,000. FMR LLC raised its stake in shares of ON24 by 45.0% in the third quarter. FMR LLC now owns 27,483 shares of the company's stock worth $168,000 after purchasing an additional 8,528 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ON24 by 39.2% in the fourth quarter. American Century Companies Inc. now owns 31,162 shares of the company's stock valued at $201,000 after purchasing an additional 8,776 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of ON24 by 91.2% during 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 during the last quarter. Institutional investors and hedge funds own 83.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on 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 reiterated a "hold" rating on shares of ON24 in a report on Wednesday, February 26th. Finally, William Blair restated a "market perform" rating on shares of ON24 in a report on Wednesday, February 26th.

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Insider Activity at ON24

In related news, CFO Steven Vattuone sold 4,997 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.52, for a total value of $32,580.44. Following the sale, the chief financial officer now directly owns 537,867 shares in the company, valued at approximately $3,506,892.84. The trade was a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sharat Sharan sold 39,196 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $5.23, for a total transaction of $204,995.08. Following the transaction, the insider now owns 3,164,092 shares of the company's stock, valued at $16,548,201.16. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 206,529 shares of company stock worth $1,174,541 and sold 162,624 shares worth $926,671. 32.30% of the stock is owned by company insiders.

ON24 Stock Performance

NYSE:ONTF traded down $0.02 during trading on Tuesday, reaching $4.65. The company's stock had a trading volume of 86,616 shares, compared to its average volume of 140,832. The firm has a market cap of $196.77 million, a price-to-earnings ratio of -4.47 and a beta of 0.55. ON24, Inc. has a 12 month low of $4.48 and a 12 month high of $7.04. The firm has a 50 day moving average of $5.71 and a 200-day moving average of $6.20.

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.