ON24, Inc. $ONTF Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of ON24, Inc. (NYSE:ONTF) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,208,017 shares of the company’s stock after selling 120,072 shares during the period. JPMorgan Chase & Co. owned about 2.86% of ON24 worth $6,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its stake in ON24 by 4.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock worth $1,749,000 after acquiring an additional 13,600 shares in the last quarter. Prelude Capital Management LLC increased its stake in ON24 by 33.9% during the third quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock worth $97,000 after purchasing an additional 4,300 shares during the period. Public Employees Retirement System of Ohio increased its stake in ON24 by 22.1% during the third quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock worth $85,000 after purchasing an additional 2,700 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of ON24 during the third quarter worth about $60,000. Finally, Millennium Management LLC purchased a new position in shares of ON24 in the third quarter valued at approximately $175,000. 83.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jayesh Sahasi sold 21,617 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $8.01, for a total value of $173,152.17. Following the completion of the transaction, the insider directly owned 680,794 shares of the company’s stock, valued at $5,453,159.94. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Vattuone sold 22,884 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $8.01, for a total transaction of $183,300.84. Following the completion of the transaction, the chief financial officer owned 457,443 shares in the company, valued at $3,664,118.43. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 84,004 shares of company stock worth $672,584 in the last three months. 33.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ONTF shares. Robert W. Baird lifted their price objective on shares of ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a report on Friday, January 2nd. Canaccord Genuity Group raised their price target on shares of ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ON24 in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $8.10.

ON24 Price Performance

NYSE:ONTF opened at $8.11 on Wednesday. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $8.11. The firm has a market capitalization of $348.43 million, a PE ratio of -11.92 and a beta of 0.60. The business’s fifty day moving average price is $8.00 and its 200 day moving average price is $6.73.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. ON24 had a negative return on equity of 16.62% and a negative net margin of 20.71%.The company had revenue of $34.64 million during the quarter, compared to the consensus estimate of $33.99 million. As a group, equities analysts anticipate that ON24, Inc. will post -0.81 EPS for the current year.

ON24 Profile

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.