JPMorgan Chase & Co. Reduces Stake in ON24, Inc. (NYSE:ONTF)

JPMorgan Chase & Co. decreased its holdings in shares of ON24, Inc. (NYSE:ONTF) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 572,416 shares of the company’s stock after selling 10,614 shares during the period. JPMorgan Chase & Co. owned about 1.37% of ON24 worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in ONTF. The Manufacturers Life Insurance Company grew its holdings in ON24 by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after purchasing an additional 2,158 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of ON24 by 8.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after buying an additional 5,337 shares during the last quarter. FMR LLC lifted its holdings in shares of ON24 by 45.0% during the 3rd 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 last quarter. SG Americas Securities LLC acquired a new position in shares of ON24 during the third quarter valued at about $62,000. Finally, Marshall Wace LLP purchased a new stake in shares of ON24 during the second quarter valued at $72,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ON24

In related news, insider Jayesh Sahasi sold 5,047 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $7.00, for a total transaction of $35,329.00. Following the completion of the sale, the insider now directly owns 692,045 shares of the company’s stock, valued at approximately $4,844,315. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Vattuone sold 4,383 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total transaction of $27,569.07. Following the completion of the transaction, the chief financial officer now directly owns 583,591 shares in the company, valued at $3,670,787.39. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,137 shares of company stock worth $1,010,089 in the last ninety days. 32.30% of the stock is owned by insiders.

ON24 Stock Down 0.4 %

Shares of ONTF opened at $6.42 on Friday. The stock has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $6.33. The company has a market capitalization of $267.56 million, a PE ratio of -6.18 and a beta of 0.50. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday.

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.