Palogic Value Management L.P. Sells 71,800 Shares of ON24, Inc. (NYSE:ONTF)

Palogic Value Management L.P. lessened its holdings in shares of ON24, Inc. (NYSE:ONTF - Free Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 260,000 shares of the company's stock after selling 71,800 shares during the quarter. Palogic Value Management L.P. owned about 0.62% of ON24 worth $1,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of 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 acquiring an additional 3,891 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ON24 in the fourth quarter valued at approximately $153,000. FMR LLC grew its holdings in shares of ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company's stock worth $168,000 after buying an additional 8,528 shares in the last quarter. Jane Street Group LLC grew its position in shares of 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 purchasing an additional 29,148 shares during the period. Finally, P.A.W. Capital Corp purchased a new position in shares of ON24 during the 4th quarter worth about $484,000. Hedge funds and other institutional investors own 83.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ONTF. Needham & Company LLC reissued a "hold" rating on shares of ON24 in a research report on Wednesday, February 26th. 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. Finally, William Blair reiterated a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th.

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ON24 Price Performance

Shares of NYSE ONTF traded up $0.06 during trading hours on Tuesday, hitting $5.67. 92,788 shares of the company's stock were exchanged, compared to its average volume of 139,229. The company's 50-day moving average price is $6.26 and its 200-day moving average price is $6.33. The stock has a market capitalization of $239.98 million, a price-to-earnings ratio of -5.45 and a beta of 0.55. ON24, Inc. has a 1-year low of $5.22 and a 1-year high of $7.38.

Insider Activity at ON24

In other news, major shareholder Lake Lp Lynrock acquired 38,022 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $5.56 per share, for a total transaction of $211,402.32. Following the transaction, the insider now directly owns 7,507,386 shares of the company's stock, valued at approximately $41,741,066.16. This represents a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anil Arora acquired 8,661 shares of ON24 stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $48,934.65. Following the completion of the purchase, the director now directly owns 126,048 shares of the company's stock, valued at approximately $712,171.20. This represents a 7.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 206,529 shares of company stock valued at $1,174,541 and sold 184,617 shares valued at $1,111,394. 32.30% of the stock is currently owned by company insiders.

ON24 Company 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.