Rhumbline Advisers Decreases Stock Holdings in ON24, Inc. (NYSE:ONTF)

Rhumbline Advisers lowered its holdings in ON24, Inc. (NYSE:ONTF) by 5.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,149 shares of the company’s stock after selling 2,586 shares during the quarter. Rhumbline Advisers’ holdings in ON24 were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ONTF. R Squared Ltd acquired a new position in ON24 during the 4th quarter worth approximately $153,000. SG Americas Securities LLC raised its stake 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 valued at $91,000 after purchasing an additional 3,891 shares during the period. Barclays PLC raised its stake in shares of ON24 by 48.7% during the third quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after purchasing an additional 33,352 shares during the period. Jane Street Group LLC lifted 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 worth $374,000 after purchasing an additional 29,148 shares in the last quarter. Finally, FMR LLC boosted 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 valued at $168,000 after purchasing an additional 8,528 shares during the period. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Trading Up 0.1 %

Shares of NYSE:ONTF opened at $5.75 on Monday. The firm has a market cap of $239.28 million, a PE ratio of -5.52 and a beta of 0.55. The company has a fifty day simple moving average of $6.46 and a 200 day simple moving average of $6.39. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $7.38.

Insiders Place Their Bets

In related news, CRO James Blackie sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $6.96, for a total transaction of $55,680.00. Following the sale, the executive now directly owns 405,352 shares of the company’s stock, valued at approximately $2,821,249.92. This represents a 1.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Vattuone sold 17,025 shares of ON24 stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $6.70, for a total transaction of $114,067.50. Following the completion of the transaction, the chief financial officer now directly owns 544,386 shares of the company’s stock, valued at approximately $3,647,386.20. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,142 shares of company stock valued at $1,068,769 in the last ninety days. Corporate insiders own 32.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.