Federated Hermes Inc. Acquires 18,372 Shares of ON24, Inc. (NYSE:ONTF)

Federated Hermes Inc. raised its holdings in shares of ON24, Inc. (NYSE:ONTF) by 1.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,167,713 shares of the company’s stock after acquiring an additional 18,372 shares during the period. Federated Hermes Inc.’s holdings in ON24 were worth $7,543,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Barclays PLC increased its holdings in ON24 by 48.7% in the third quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after purchasing an additional 33,352 shares during the last quarter. Jane Street Group LLC grew its position in shares of ON24 by 91.2% during the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after buying an additional 29,148 shares during the period. P.A.W. Capital Corp bought a new stake in shares of ON24 in the 4th quarter valued at about $484,000. FMR LLC raised its position in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares during the period. Finally, SG Americas Securities LLC boosted its stake in 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 acquiring an additional 3,891 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Performance

Shares of ONTF stock opened at $4.68 on Friday. ON24, Inc. has a 52 week low of $4.48 and a 52 week high of $7.19. The company’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $6.23. The company has a market capitalization of $198.08 million, a P/E ratio of -4.50 and a beta of 0.55.

Insider Buying and Selling

In related news, Director Dominique Trempont sold 4,250 shares of ON24 stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $6.40, for a total value of $27,200.00. Following the sale, the director now owns 258,850 shares of the company’s stock, valued at approximately $1,656,640. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sharat Sharan sold 39,196 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $5.23, for a total value of $204,995.08. Following the completion of the sale, the insider now owns 3,164,092 shares in the company, valued at $16,548,201.16. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 206,529 shares of company stock worth $1,174,541 and have sold 198,813 shares worth $1,151,042. 32.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ONTF has been the subject of several recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

ON24 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.