Vanguard Group Inc. Reduces Holdings in ON24, Inc. (NYSE:ONTF)

Vanguard Group Inc. lowered its holdings in ON24, Inc. (NYSE:ONTF - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 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 hedge funds have also recently modified their holdings of ONTF. American Century Companies Inc. increased its holdings in shares of ON24 by 39.2% in the 4th quarter. American Century Companies Inc. now owns 31,162 shares of the company's stock valued at $201,000 after acquiring an additional 8,776 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of ON24 by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company's stock worth $1,842,000 after buying an additional 2,189 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ON24 by 13.6% during the 4th quarter. Bank of New York Mellon Corp now owns 85,356 shares of the company's stock worth $551,000 after acquiring an additional 10,192 shares in the last quarter. P.A.W. Capital Corp purchased a new stake in ON24 during the fourth quarter valued at approximately $484,000. Finally, R Squared Ltd purchased a new stake in shares of ON24 during the 4th quarter valued at $153,000. Hedge funds and other institutional investors own 83.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONTF. William Blair reaffirmed a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ON24 in a report on Wednesday, February 26th.

Insiders Place Their Bets

In other news, insider Jayesh Sahasi sold 35,564 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $5.48, for a total transaction of $194,890.72. Following the completion of the transaction, the insider now directly owns 644,989 shares of the company's stock, valued at $3,534,539.72. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sharat Sharan sold 39,196 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $5.23, for a total transaction of $204,995.08. Following the completion of the sale, the insider now directly owns 3,164,092 shares of the company's stock, valued at approximately $16,548,201.16. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 206,529 shares of company stock worth $1,174,541 and have sold 160,381 shares worth $905,599. Insiders own 32.30% of the company's stock.

ON24 Price Performance

NYSE:ONTF traded down $0.16 during mid-day trading on Monday, hitting $4.36. The company's stock had a trading volume of 28,231 shares, compared to its average volume of 140,491. The business's fifty day moving average is $5.52 and its two-hundred day moving average is $6.16. The stock has a market cap of $184.54 million, a price-to-earnings ratio of -4.19 and a beta of 0.55. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.04.

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.