ON24, Inc. (NYSE:ONTF) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of ON24, Inc. (NYSE:ONTF) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,137,949 shares of the company’s stock after selling 26,458 shares during the quarter. Federated Hermes Inc. owned 2.74% of ON24 worth $8,967,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in ON24 during the 3rd quarter worth approximately $286,000. Corton Capital Inc. grew its position in ON24 by 65.0% in the third quarter. Corton Capital Inc. now owns 33,401 shares of the company’s stock valued at $211,000 after acquiring an additional 13,159 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in ON24 by 2.0% in the third quarter. Brandywine Global Investment Management LLC now owns 260,700 shares of the company’s stock valued at $1,650,000 after acquiring an additional 5,100 shares in the last quarter. Barclays PLC grew its position in ON24 by 59.5% in the third quarter. Barclays PLC now owns 53,332 shares of the company’s stock valued at $338,000 after acquiring an additional 19,905 shares in the last quarter. Finally, Horrell Capital Management Inc. grew its position in ON24 by 14.7% in the third quarter. Horrell Capital Management Inc. now owns 406,196 shares of the company’s stock valued at $2,571,000 after acquiring an additional 52,000 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

Insider Activity

In other news, CFO Steven Vattuone sold 10,376 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.15, for a total transaction of $84,564.40. Following the completion of the transaction, the chief financial officer now directly owns 396,398 shares in the company, valued at approximately $3,230,643.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Steven Vattuone sold 10,376 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.15, for a total transaction of $84,564.40. Following the completion of the transaction, the chief financial officer now directly owns 396,398 shares in the company, valued at approximately $3,230,643.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sharat Sharan sold 13,537 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $7.56, for a total value of $102,339.72. Following the transaction, the insider now owns 2,547,358 shares in the company, valued at $19,258,026.48. The disclosure for this sale can be found here. In the last three months, insiders sold 90,623 shares of company stock worth $684,249. 27.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price objective on shares of ON24 from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 23rd.

ON24 Stock Down 0.1 %

Shares of NYSE:ONTF opened at $6.71 on Thursday. ON24, Inc. has a 52-week low of $5.73 and a 52-week high of $9.55. The company has a 50 day moving average of $7.02 and a two-hundred day moving average of $7.11.

ON24 (NYSE:ONTF) last released its earnings results on Thursday, February 22nd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.25). The business had revenue of $39.34 million for the quarter, compared to analysts’ expectations of $37.29 million. ON24 had a negative net margin of 31.63% and a negative return on equity of 18.49%. During the same quarter last year, the company posted ($0.23) earnings per share. Research analysts anticipate that ON24, Inc. will post -0.6 EPS for the current fiscal year.

About ON24

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.