ON24, Inc. (NYSE:ONTF) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of ON24, Inc. (NYSE:ONTF) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,356 shares of the company’s stock after acquiring an additional 10,192 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of ON24 worth $551,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ONTF. P.A.W. Capital Corp purchased a new position in ON24 during the 4th quarter worth approximately $484,000. Barclays PLC grew its holdings 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 buying an additional 33,352 shares in the last quarter. Jane Street Group LLC raised its position in ON24 by 91.2% during the third quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock valued at $374,000 after buying an additional 29,148 shares during the period. R Squared Ltd purchased a new stake in ON24 in the 4th quarter worth about $153,000. Finally, FMR LLC boosted its position in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after acquiring an additional 8,528 shares during the period. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Stock Down 0.1 %

Shares of ONTF opened at $5.58 on Friday. The firm has a market cap of $235.96 million, a price-to-earnings ratio of -5.36 and a beta of 0.55. The company’s fifty day moving average is $6.21 and its 200-day moving average is $6.32. ON24, Inc. has a 12 month low of $5.22 and a 12 month high of $7.38.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.40, for a total transaction of $27,200.00. Following the transaction, the director now owns 258,850 shares of the company’s stock, valued at approximately $1,656,640. This represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jayesh Sahasi sold 35,564 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $5.48, for a total value of $194,890.72. Following the completion of the transaction, the insider now directly owns 644,989 shares in the company, valued at $3,534,539.72. The trade was a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 206,529 shares of company stock worth $1,174,541 and sold 184,617 shares worth $1,111,394. 32.30% of the stock is currently owned by corporate insiders.

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.