Federated Hermes Inc. Has $7.54 Million Stake in ON24, Inc. (NYSE:ONTF)

Federated Hermes Inc. boosted its holdings in shares of ON24, Inc. (NYSE:ONTF) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167,713 shares of the company’s stock after buying an additional 18,372 shares during the period. Federated Hermes Inc. owned about 2.80% of ON24 worth $7,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONTF. JPMorgan Chase & Co. lifted its position in shares of ON24 by 43.5% during the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after buying an additional 249,045 shares during the period. P.A.W. Capital Corp bought a new position in shares of ON24 during the fourth quarter valued at $484,000. Norges Bank bought a new position in shares of ON24 during the fourth quarter valued at $428,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of ON24 by 15.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock valued at $3,166,000 after purchasing an additional 66,022 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its holdings in shares of ON24 by 15.9% in the 4th quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after purchasing an additional 54,000 shares during the last quarter. Institutional investors own 83.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONTF. JPMorgan Chase & Co. cut 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 reissued a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, William Blair restated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th.

Insider Buying and Selling at ON24

In other ON24 news, CFO Steven Vattuone sold 4,997 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.52, for a total value of $32,580.44. Following the transaction, the chief financial officer now directly owns 537,867 shares in the company, valued at approximately $3,506,892.84. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sharat Sharan sold 39,196 shares of ON24 stock in a transaction on Monday, March 31st. The shares were sold at an average price of $5.23, for a total value of $204,995.08. Following the completion of the sale, the insider now directly owns 3,164,092 shares of the company’s stock, valued at $16,548,201.16. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 206,529 shares of company stock worth $1,174,541 and sold 198,813 shares worth $1,151,042. Corporate insiders own 32.30% of the company’s stock.

ON24 Stock Down 4.1 %

ON24 stock opened at $4.68 on Friday. The stock has a 50-day simple moving average of $5.80 and a 200 day simple moving average of $6.23. The stock has a market capitalization of $198.08 million, a price-to-earnings ratio of -4.50 and a beta of 0.55. ON24, Inc. has a 12-month low of $4.48 and a 12-month high of $7.19.

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.