ON24 (NYSE:ONTF) Given New $6.00 Price Target at Robert W. Baird

ON24 (NYSE:ONTF - Get Free Report) had its price target raised by stock analysts at Robert W. Baird from $5.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 19.88% from the stock's previous close.

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ONTF has been the topic of a number of other research reports. Wall Street Zen lowered shares of ON24 from a "buy" rating to a "hold" rating in a research report on Saturday, October 25th. Weiss Ratings restated a "sell (d-)" rating on shares of ON24 in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $5.67.

View Our Latest Report on ON24

ON24 Stock Up 1.3%

Shares of NYSE ONTF opened at $5.01 on Tuesday. ON24 has a 12 month low of $4.35 and a 12 month high of $7.03. The company has a market cap of $211.76 million, a P/E ratio of -5.82 and a beta of 0.66. The business's 50 day moving average is $5.55 and its two-hundred day moving average is $5.36.

Insider Buying and Selling at ON24

In related news, insider Sharat Sharan sold 32,159 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $5.55, for a total value of $178,482.45. Following the completion of the transaction, the insider owned 3,620,863 shares of the company's stock, valued at $20,095,789.65. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jayesh Sahasi sold 5,612 shares of ON24 stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $5.52, for a total value of $30,978.24. Following the sale, the insider directly owned 742,521 shares in the company, valued at $4,098,715.92. The trade was a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 157,441 shares of company stock valued at $864,434 over the last quarter. 33.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ON24

A number of hedge funds have recently modified their holdings of ONTF. R Squared Ltd boosted its stake in ON24 by 74.6% in the 1st quarter. R Squared Ltd now owns 41,415 shares of the company's stock valued at $215,000 after buying an additional 17,693 shares in the last quarter. Nuveen LLC bought a new position in shares of ON24 during the first quarter valued at $357,000. American Century Companies Inc. boosted its stake in shares of ON24 by 32.6% in the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company's stock valued at $215,000 after purchasing an additional 10,171 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of ON24 by 115.6% in the 1st quarter. Hsbc Holdings PLC now owns 78,363 shares of the company's stock worth $409,000 after purchasing an additional 42,018 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of ON24 by 78.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company's stock worth $345,000 after purchasing an additional 29,290 shares in the last quarter. 83.93% of the stock is owned by institutional investors and hedge funds.

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.

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