Wells Fargo & Company MN Acquires 3,518 Shares of ON24, Inc. (NYSE:ONTF)

Wells Fargo & Company MN lifted its position in shares of ON24, Inc. (NYSE:ONTF) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,270 shares of the company’s stock after acquiring an additional 3,518 shares during the period. Wells Fargo & Company MN’s holdings in ON24 were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of ON24 by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company’s stock valued at $1,842,000 after acquiring an additional 2,189 shares in the last quarter. SG Americas Securities LLC increased 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 valued at $91,000 after acquiring an additional 3,891 shares in the last quarter. American Century Companies Inc. increased its position in shares of ON24 by 39.2% during the fourth 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 in the last quarter. Bank of New York Mellon Corp increased its position in shares of ON24 by 13.6% during the fourth quarter. Bank of New York Mellon Corp now owns 85,356 shares of the company’s stock valued at $551,000 after acquiring an additional 10,192 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of ON24 during the fourth quarter valued at approximately $153,000. Institutional investors own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ONTF. Canaccord Genuity Group cut their target price on shares of ON24 from $9.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday. William Blair reaffirmed a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th. Robert W. Baird cut their target price on shares of ON24 from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price 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. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, ON24 currently has a consensus rating of “Hold” and a consensus price target of $5.33.

Insider Buying and Selling at ON24

In other news, insider Sharat Sharan sold 39,196 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $5.23, for a total value of $204,995.08. Following the completion of the sale, the insider now owns 3,164,092 shares of the company’s stock, valued at approximately $16,548,201.16. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Vattuone sold 6,146 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $6.68, for a total transaction of $41,055.28. Following the completion of the sale, the chief financial officer now directly owns 534,386 shares of the company’s stock, valued at $3,569,698.48. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 206,529 shares of company stock valued at $1,174,541 and sold 150,296 shares valued at $838,166. 32.30% of the stock is owned by corporate insiders.

ON24 Trading Up 2.7%

Shares of NYSE:ONTF opened at $4.86 on Monday. The company has a market capitalization of $206.42 million, a price-to-earnings ratio of -4.67 and a beta of 0.56. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $7.04. The firm’s 50-day moving average is $5.05 and its 200 day moving average is $6.00.

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.