Federated Hermes Inc. Has $8.97 Million Position in ON24, Inc. (NYSE:ONTF)

Federated Hermes Inc. lowered its holdings in ON24, Inc. (NYSE:ONTF) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,137,949 shares of the company’s stock after selling 26,458 shares during the period. Federated Hermes Inc.’s holdings in ON24 were worth $8,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brandywine Global Investment Management LLC raised its position in shares of ON24 by 2.0% during the third quarter. Brandywine Global Investment Management LLC now owns 260,700 shares of the company’s stock worth $1,650,000 after acquiring an additional 5,100 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ON24 by 62.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,673 shares of the company’s stock worth $87,000 after acquiring an additional 5,258 shares during the last quarter. Corton Capital Inc. raised its position in shares of ON24 by 65.0% during the third quarter. Corton Capital Inc. now owns 33,401 shares of the company’s stock worth $211,000 after acquiring an additional 13,159 shares during the last quarter. Barclays PLC raised its position in shares of ON24 by 59.5% during the third quarter. Barclays PLC now owns 53,332 shares of the company’s stock worth $338,000 after acquiring an additional 19,905 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of ON24 during the third quarter worth $286,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Trading Down 0.1 %

NYSE ONTF opened at $6.71 on Thursday. The stock has a 50-day simple moving average of $7.02 and a 200 day simple moving average of $7.11. ON24, Inc. has a 12 month low of $5.73 and a 12 month high of $9.55.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.25). The company had revenue of $39.34 million during the quarter, compared to the consensus estimate of $37.29 million. ON24 had a negative net margin of 31.63% and a negative return on equity of 18.49%. During the same quarter in the prior year, the company posted ($0.23) EPS. As a group, equities analysts predict that ON24, Inc. will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their target price on ON24 from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 23rd.

Insiders Place Their Bets

In other ON24 news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $8.12, for a total value of $34,510.00. Following the completion of the sale, the director now directly owns 287,185 shares in the company, valued at $2,331,942.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ON24 news, Director Dominique Trempont sold 4,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $8.12, for a total value of $34,510.00. Following the completion of the sale, the director now directly owns 287,185 shares in the company, valued at $2,331,942.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO James Blackie sold 17,899 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $8.15, for a total value of $145,876.85. Following the completion of the sale, the executive now owns 286,320 shares of the company’s stock, valued at $2,333,508. The disclosure for this sale can be found here. Insiders sold 90,623 shares of company stock worth $684,249 over the last ninety days. 27.30% of the stock is currently owned by corporate insiders.

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.