ON24, Inc. (NYSE:ONTF) Short Interest Up 34.9% in February

ON24, Inc. (NYSE:ONTF) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 915,458 shares, a growth of 34.9% from the January 29th total of 678,640 shares. Based on an average daily volume of 476,304 shares, the short-interest ratio is currently 1.9 days. Approximately 3.2% of the company’s stock are sold short. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 476,304 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Robert W. Baird lifted their target price on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Canaccord Genuity Group increased their price objective on ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research report on Wednesday, December 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $8.10.

ON24 Trading Up 0.1%

ONTF stock traded up $0.01 during trading on Monday, reaching $8.02. The stock had a trading volume of 687,861 shares, compared to its average volume of 484,349. The firm has a market cap of $342.05 million, a PE ratio of -11.79 and a beta of 0.60. The stock’s 50 day moving average is $7.71 and its two-hundred day moving average is $6.33. ON24 has a 52 week low of $4.35 and a 52 week high of $8.10.

Insider Buying and Selling

In other ON24 news, insider Jayesh Sahasi sold 34,753 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $7.98, for a total value of $277,328.94. Following the sale, the insider directly owned 672,527 shares of the company’s stock, valued at approximately $5,366,765.46. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James Blackie sold 16,000 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $7.96, for a total value of $127,360.00. Following the transaction, the executive owned 478,861 shares of the company’s stock, valued at $3,811,733.56. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 255,600 shares of company stock valued at $1,881,367. 33.00% of the stock is owned by company insiders.

Institutional Trading of ON24

Several large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP raised its position in ON24 by 1.0% in the fourth quarter. Trexquant Investment LP now owns 156,670 shares of the company’s stock worth $1,247,000 after acquiring an additional 1,489 shares during the period. AQR Capital Management LLC grew its position in shares of ON24 by 1.7% during the 4th quarter. AQR Capital Management LLC now owns 112,146 shares of the company’s stock valued at $893,000 after acquiring an additional 1,908 shares during the period. MetLife Investment Management LLC increased its stake in shares of ON24 by 17.0% in the 4th quarter. MetLife Investment Management LLC now owns 17,696 shares of the company’s stock worth $141,000 after purchasing an additional 2,575 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in ON24 by 22.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock worth $85,000 after purchasing an additional 2,700 shares during the period. Finally, Nisa Investment Advisors LLC lifted 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 valued at $39,000 after purchasing an additional 2,825 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

ON24 Company Profile

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.