Needham & Company LLC Reiterates "Hold" Rating for ON24 (NYSE:ONTF)

ON24 (NYSE:ONTF - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

ON24 Trading Up 0.5 %

ONTF traded up $0.03 on Wednesday, reaching $5.59. The stock had a trading volume of 288,825 shares, compared to its average volume of 105,378. ON24 has a fifty-two week low of $5.37 and a fifty-two week high of $7.38. The firm has a 50-day moving average of $6.55 and a 200-day moving average of $6.41. The company has a market capitalization of $232.83 million, a price-to-earnings ratio of -5.38 and a beta of 0.52.

Insiders Place Their Bets

In other news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $6.94, for a total value of $29,495.00. Following the completion of the sale, the director now owns 254,600 shares of the company's stock, valued at approximately $1,766,924. This represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sharat Sharan sold 36,189 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $6.20, for a total value of $224,371.80. Following the completion of the sale, the insider now directly owns 3,113,728 shares of the company's stock, valued at approximately $19,305,113.60. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,637 shares of company stock valued at $1,110,727 in the last 90 days. Corporate insiders own 32.30% of the company's stock.

Institutional Investors Weigh In On ON24

Several institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in shares of ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock valued at $102,000 after purchasing an additional 5,713 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of ON24 by 11.9% during the 4th quarter. Two Sigma Investments LP now owns 175,366 shares of the company's stock valued at $1,133,000 after purchasing an additional 18,647 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of ON24 by 11.4% during the 4th quarter. Two Sigma Advisers LP now owns 256,900 shares of the company's stock valued at $1,660,000 after purchasing an additional 26,200 shares in the last quarter. Millennium Management LLC boosted its position in shares of ON24 by 84.8% during the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company's stock valued at $920,000 after purchasing an additional 65,322 shares in the last quarter. Finally, Circumference Group LLC boosted its position in shares of ON24 by 15.9% during the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company's stock valued at $2,547,000 after purchasing an additional 54,000 shares in the last quarter. Institutional investors own 83.93% of the company's stock.

About ON24

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.