Public Employees Retirement System of Ohio Raises Stake in ON24, Inc. $ONTF

Public Employees Retirement System of Ohio lifted its holdings in shares of ON24, Inc. (NYSE:ONTF) by 228.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,242 shares of the company’s stock after buying an additional 8,515 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ON24 were worth $66,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ONTF. Lynrock Lake LP raised its stake in shares of ON24 by 4.5% during the 1st quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after buying an additional 329,715 shares during the period. Acadian Asset Management LLC raised its stake in shares of ON24 by 18.0% during the 1st quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock worth $4,319,000 after buying an additional 127,010 shares during the period. P.A.W. Capital Corp raised its stake in shares of ON24 by 113.3% during the 1st quarter. P.A.W. Capital Corp now owns 160,000 shares of the company’s stock worth $832,000 after buying an additional 85,000 shares during the period. Nuveen LLC acquired a new position in shares of ON24 during the 1st quarter worth approximately $357,000. Finally, Palogic Value Management L.P. raised its stake in shares of ON24 by 23.1% during the 1st quarter. Palogic Value Management L.P. now owns 320,000 shares of the company’s stock worth $1,664,000 after buying an additional 60,000 shares during the period. 83.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research note on Saturday, September 27th. Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research note on Saturday. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.33.

ON24 Stock Down 3.3%

Shares of NYSE:ONTF opened at $5.50 on Wednesday. The business has a fifty day moving average of $5.45 and a two-hundred day moving average of $5.27. The stock has a market cap of $232.49 million, a P/E ratio of -6.39 and a beta of 0.66. ON24, Inc. has a 52-week low of $4.35 and a 52-week high of $7.03.

Insider Buying and Selling

In other ON24 news, CFO Steven Vattuone sold 20,116 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $5.54, for a total value of $111,442.64. Following the completion of the sale, the chief financial officer directly owned 583,594 shares in the company, valued at $3,233,110.76. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jayesh Sahasi sold 4,608 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $5.52, for a total value of $25,436.16. Following the completion of the sale, the insider owned 737,913 shares of the company’s stock, valued at approximately $4,073,279.76. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,132 shares of company stock valued at $884,493 in the last quarter. Corporate insiders own 33.00% of the company’s stock.

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.