Strs Ohio Reduces Stake in ON24, Inc. (NYSE:ONTF)

Strs Ohio reduced its position in ON24, Inc. (NYSE:ONTFGet Rating) by 75.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,700 shares of the company’s stock after selling 14,400 shares during the period. Strs Ohio’s holdings in ON24 were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTF. Swiss National Bank boosted its stake in shares of ON24 by 9.7% in the 1st quarter. Swiss National Bank now owns 39,400 shares of the company’s stock worth $518,000 after buying an additional 3,500 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ON24 by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 93,555 shares of the company’s stock valued at $1,230,000 after purchasing an additional 1,620 shares in the last quarter. MetLife Investment Management LLC lifted its position in ON24 by 57.0% during the first quarter. MetLife Investment Management LLC now owns 16,511 shares of the company’s stock valued at $217,000 after purchasing an additional 5,994 shares in the last quarter. Rhumbline Advisers lifted its position in ON24 by 18.8% during the first quarter. Rhumbline Advisers now owns 29,043 shares of the company’s stock valued at $382,000 after purchasing an additional 4,590 shares in the last quarter. Finally, BlackRock Inc. lifted its position in ON24 by 7.9% during the first quarter. BlackRock Inc. now owns 1,635,133 shares of the company’s stock valued at $21,502,000 after purchasing an additional 119,092 shares in the last quarter. 78.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONTF has been the topic of several analyst reports. Piper Sandler lowered their target price on ON24 from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. Robert W. Baird lowered their target price on ON24 to $8.00 in a report on Tuesday, November 15th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, ON24 presently has a consensus rating of “Hold” and an average price target of $12.75.

ON24 Trading Up 2.1 %

Shares of ONTF stock opened at $8.89 on Monday. The business’s fifty day simple moving average is $8.07 and its 200-day simple moving average is $8.75. The company has a market cap of $422.13 million and a PE ratio of -7.66. ON24, Inc. has a 12-month low of $6.95 and a 12-month high of $16.83.

ON24 (NYSE:ONTFGet Rating) last issued its earnings results on Wednesday, November 9th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.09. ON24 had a negative return on equity of 16.40% and a negative net margin of 28.31%. The company had revenue of $47.58 million during the quarter, compared to analyst estimates of $47.42 million. On average, equities analysts forecast that ON24, Inc. will post -1.21 earnings per share for the current year.

About ON24

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ON24, Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Experience products, such as ON24 Elite, a live and interactive webinar experience; ON24 Breakouts, a live breakout room experience that facilitates networking, collaboration and interactivity between users; ON24 Go Live, a live, interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; ON24 Virtual Confrence, a live and large scale virtual event experience; ON24 Engagement Hub, a rich multimedia content experience; and ON24 Target, a personalized and curated rich multimedia content experience, as well as solutions; ON24 Intelligence, an analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; and ON24 Connect, an ecosystem of third-party application integrations.

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Institutional Ownership by Quarter for ON24 (NYSE:ONTF)

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