ON24, Inc. (NYSE:ONTF) Stake Boosted by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC boosted its stake in shares of ON24, Inc. (NYSE:ONTF) by 50.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 363,948 shares of the company’s stock after purchasing an additional 122,700 shares during the quarter. Bridgeway Capital Management LLC’s holdings in ON24 were worth $2,351,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ONTF. JPMorgan Chase & Co. raised its holdings in shares of ON24 by 43.5% during the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock valued at $5,307,000 after acquiring an additional 249,045 shares during the period. Barclays PLC raised its stake in ON24 by 48.7% during the 3rd 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. P.A.W. Capital Corp purchased a new stake in shares of ON24 in the fourth quarter valued at $484,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of ON24 by 15.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock valued at $3,166,000 after buying an additional 66,022 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its holdings in shares of ON24 by 15.9% during the fourth quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock valued at $2,547,000 after buying an additional 54,000 shares in the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

ON24 Stock Performance

Shares of NYSE ONTF opened at $4.86 on Friday. The stock has a market cap of $206.42 million, a price-to-earnings ratio of -4.67 and a beta of 0.56. The business has a 50 day simple moving average of $5.05 and a 200 day simple moving average of $6.01. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.04.

Insider Transactions at ON24

In other news, Director Dominique Trempont sold 4,250 shares of ON24 stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $6.94, for a total value of $29,495.00. Following the transaction, the director now owns 254,600 shares of the company’s stock, valued at $1,766,924. This trade represents a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Vattuone sold 6,146 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 534,386 shares of the company’s stock, valued at approximately $3,569,698.48. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 206,529 shares of company stock worth $1,174,541 and have sold 155,384 shares worth $873,019. 32.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ONTF shares. Canaccord Genuity Group decreased their price objective on ON24 from $9.00 to $5.00 and set a “hold” rating for the company in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Robert W. Baird decreased their target price on shares of ON24 from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, William Blair reaffirmed a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.33.

ON24 Company 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.