American Century Companies Inc. Raises Stake in ON24, Inc. $ONTF

American Century Companies Inc. lifted its position in shares of ON24, Inc. (NYSE:ONTF) by 32.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 41,333 shares of the company’s stock after purchasing an additional 10,171 shares during the quarter. American Century Companies Inc. owned about 0.10% of ON24 worth $215,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Squarepoint Ops LLC grew its holdings in shares of ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after purchasing an additional 5,713 shares during the period. Wells Fargo & Company MN boosted 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 worth $112,000 after acquiring an additional 3,518 shares during the period. R Squared Ltd boosted its holdings in ON24 by 74.6% in the 1st quarter. R Squared Ltd now owns 41,415 shares of the company’s stock worth $215,000 after acquiring an additional 17,693 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ON24 by 30.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,632 shares of the company’s stock worth $308,000 after acquiring an additional 11,234 shares during the period. Finally, Bank of America Corp DE boosted its holdings in ON24 by 18.6% in the 4th quarter. Bank of America Corp DE now owns 47,999 shares of the company’s stock worth $310,000 after acquiring an additional 7,531 shares during the period. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Stock Down 1.5%

Shares of ONTF opened at $5.47 on Monday. The business’s 50 day moving average is $5.27 and its two-hundred day moving average is $5.27. ON24, Inc. has a 52-week low of $4.35 and a 52-week high of $7.03. The firm has a market cap of $231.22 million, a price-to-earnings ratio of -6.35 and a beta of 0.66.

ON24 announced that its board has initiated a stock buyback plan on Monday, May 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 22.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut ON24 from a “buy” rating to a “hold” rating in a report on Friday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.33.

Insider Buying and Selling

In other ON24 news, CRO James Blackie sold 4,592 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $5.52, for a total value of $25,347.84. Following the transaction, the executive directly owned 512,852 shares of the company’s stock, valued at $2,830,943.04. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven Vattuone sold 6,394 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $5.52, for a total value of $35,294.88. Following the completion of the transaction, the chief financial officer directly owned 613,156 shares in the company, valued at approximately $3,384,621.12. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,334 shares of company stock worth $997,076 over the last 90 days. 33.00% 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.