ON24, Inc. (NYSE:ONTF) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its position in ON24, Inc. (NYSE:ONTF) by 29.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,825 shares of the company’s stock after selling 112,170 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.63% of ON24 worth $1,698,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of ON24 by 38.1% during the 4th 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 during the last quarter. Wells Fargo & Company MN lifted its position in shares of ON24 by 25.6% during the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after acquiring an additional 3,518 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ON24 during the 4th quarter valued at $153,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ON24 during the 4th quarter valued at $175,000. Finally, American Century Companies Inc. lifted its position in shares of ON24 by 39.2% during the 4th 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 during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONTF has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research report on Wednesday, February 26th. Canaccord Genuity Group cut 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, May 8th. JPMorgan Chase & Co. cut their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. William Blair reissued a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, Robert W. Baird cut their target price on shares of ON24 from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.33.

Insider Buying and Selling at ON24

In other ON24 news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at $1,766,924. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lake Lp Lynrock bought 24,576 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $5.16 per share, for a total transaction of $126,812.16. Following the purchase, the insider now directly owns 7,684,050 shares of the company’s stock, valued at approximately $39,649,698. This represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 255,681 shares of company stock worth $1,433,326 and have sold 144,150 shares worth $797,111. Corporate insiders own 33.00% of the company’s stock.

ON24 Trading Down 1.3%

NYSE ONTF opened at $5.44 on Friday. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $7.04. The company has a market capitalization of $231.06 million, a PE ratio of -5.23 and a beta of 0.56. The firm’s fifty day simple moving average is $5.02 and its 200-day simple moving average is $5.97.

ON24 announced that its board has initiated a stock repurchase program on Monday, May 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 22.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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.