Insider Buying: ON24, Inc. (NYSE:ONTF) Director Purchases 8,661 Shares of Stock

ON24, Inc. (NYSE:ONTF) Director Anil Arora bought 8,661 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $5.65 per share, with a total value of $48,934.65. Following the acquisition, the director now directly owns 126,048 shares in the company, valued at approximately $712,171.20. This trade represents a 7.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Anil Arora also recently made the following trade(s):

• On Tuesday, March 11th, Anil Arora bought 39 shares of ON24 stock. The shares were acquired at an average cost of $5.50 per share, with a total value of $214.50.

ON24 Stock Up 4.6 %

Shares of ONTF stock opened at $5.86 on Friday. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $7.38. The firm has a market capitalization of $244.03 million, a price-to-earnings ratio of -5.63 and a beta of 0.55. The firm has a fifty day moving average of $6.38 and a 200-day moving average of $6.37.

Analyst Ratings Changes

A number of analysts have commented on ONTF shares. William Blair reaffirmed a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Institutional Investors Weigh In On ON24

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after acquiring an additional 3,891 shares in the last quarter. Squarepoint Ops LLC lifted its position in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after acquiring an additional 5,713 shares in the last quarter. Wells Fargo & Company MN lifted its position in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after acquiring an additional 3,518 shares in the last quarter. Gladius Capital Management LP lifted its position in ON24 by 151.2% in the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after acquiring an additional 13,755 shares in the last quarter. Finally, R Squared Ltd bought a new stake in ON24 in the 4th quarter valued at $153,000. 83.93% of the stock is owned by institutional investors.

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.