ON24 (NYSE:ONTF) Given New $5.00 Price Target at Robert W. Baird

ON24 (NYSE:ONTF) had its price target cut by Robert W. Baird from $7.00 to $5.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on ONTF. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, William Blair reiterated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.33.

ON24 Price Performance

Shares of NYSE ONTF opened at $4.86 on Thursday. The firm’s 50 day simple moving average is $5.05 and its 200-day simple moving average is $6.00. ON24 has a 12 month low of $4.35 and a 12 month high of $7.04. The stock has a market capitalization of $206.42 million, a price-to-earnings ratio of -4.67 and a beta of 0.56.

Insider Buying and Selling

In related news, insider Sharat Sharan sold 39,196 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $5.23, for a total value of $204,995.08. Following the completion of the transaction, the insider now directly owns 3,164,092 shares of the company’s stock, valued at approximately $16,548,201.16. This represents a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Vattuone sold 6,146 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $6.68, for a total value of $41,055.28. Following the completion of the transaction, the chief financial officer now owns 534,386 shares in the company, valued at $3,569,698.48. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have bought 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 insiders.

Institutional Trading of ON24

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings 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 worth $91,000 after purchasing an additional 3,891 shares during the last quarter. Squarepoint Ops LLC boosted its stake in ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after buying an additional 5,713 shares during the last quarter. Wells Fargo & Company MN grew its holdings in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after buying an additional 3,518 shares in the last quarter. R Squared Ltd acquired a new stake in shares of ON24 in the 4th quarter worth $153,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ON24 during the 4th quarter worth $175,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

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.