Strs Ohio Sells 14,400 Shares of ON24, Inc. (NYSE:ONTF)

Strs Ohio lowered its stake in shares of ON24, Inc. (NYSE:ONTF – Get Rating) by 75.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,700 shares of the company’s stock after selling 14,400 shares during the quarter. Strs Ohio’s holdings in ON24 were worth $41,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ONTF. Swiss National Bank grew its holdings in ON24 by 9.7% during the first quarter. Swiss National Bank now owns 39,400 shares of the company’s stock worth $518,000 after buying an additional 3,500 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $1,230,000 after buying an additional 1,620 shares in the last quarter. MetLife Investment Management LLC grew its holdings in ON24 by 57.0% during the first quarter. MetLife Investment Management LLC now owns 16,511 shares of the company’s stock worth $217,000 after buying an additional 5,994 shares in the last quarter. Rhumbline Advisers grew its holdings in ON24 by 18.8% during the first quarter. Rhumbline Advisers now owns 29,043 shares of the company’s stock worth $382,000 after buying an additional 4,590 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in ON24 by 7.9% during the first quarter. BlackRock Inc. now owns 1,635,133 shares of the company’s stock worth $21,502,000 after buying an additional 119,092 shares in the last quarter. Institutional investors own 78.61% of the company’s stock.

ON24 Price Performance

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

ON24 (NYSE:ONTF – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.27) EPS for the quarter, beating 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 firm had revenue of $47.58 million for the quarter, compared to analysts’ expectations of $47.42 million. As a group, equities analysts expect that ON24, Inc. will post -1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ONTF. Robert W. Baird cut their price objective on ON24 to $8.00 in a research report on Tuesday, November 15th. Piper Sandler cut their price objective on ON24 from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.75.

ON24 Company Profile

(Get Rating)

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.