Brokerages Set ON24, Inc. (NYSE:ONTF) Price Target at $7.40

Shares of ON24, Inc. (NYSE:ONTF) have earned a consensus rating of “Reduce” from the three ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $8.10.

Several brokerages have commented on ONTF. Robert W. Baird boosted their price target on shares of ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday, January 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. Canaccord Genuity Group upped their target price on ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Finally, Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th.

Insider Buying and Selling

In related news, insider Jayesh Sahasi sold 34,753 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $7.98, for a total value of $277,328.94. Following the completion of the transaction, the insider directly owned 672,527 shares of the company’s stock, valued at approximately $5,366,765.46. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sharat Sharan sold 50,332 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $7.97, for a total transaction of $401,146.04. Following the transaction, the insider owned 3,622,559 shares in the company, valued at approximately $28,871,795.23. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 293,081 shares of company stock worth $2,095,009. 33.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONTF. Nisa Investment Advisors LLC increased its position in ON24 by 139.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock worth $39,000 after buying an additional 2,825 shares during the last quarter. Meteora Capital LLC acquired a new stake in shares of ON24 in the fourth quarter valued at approximately $48,000. Mercer Global Advisors Inc. ADV bought a new position in shares of ON24 during the 3rd quarter worth approximately $60,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of ON24 during the 3rd quarter worth approximately $61,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of ON24 by 132.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,614 shares of the company’s stock worth $61,000 after acquiring an additional 4,334 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

ON24 Stock Up 0.1%

Shares of ONTF opened at $8.02 on Wednesday. ON24 has a twelve month low of $4.35 and a twelve month high of $8.10. The stock has a market capitalization of $341.87 million, a P/E ratio of -11.79 and a beta of 0.61. The company has a 50 day moving average of $7.71 and a 200-day moving average of $6.31.

About ON24

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.