Los Angeles Capital Management LLC Sells 21,900 Shares of ON24, Inc. (NYSE:ONTF)

Los Angeles Capital Management LLC decreased its position in ON24, Inc. (NYSE:ONTF) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,682 shares of the company’s stock after selling 21,900 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.46% of ON24 worth $1,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of ON24 by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after acquiring an additional 49,498 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of ON24 by 856.5% during the first quarter. Acadian Asset Management LLC now owns 469,544 shares of the company’s stock valued at $3,351,000 after purchasing an additional 420,455 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of ON24 by 8.9% during the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after purchasing an additional 2,401 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of ON24 by 14.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,089 shares of the company’s stock worth $590,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of ON24 by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock worth $8,830,000 after buying an additional 22,577 shares during the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Trading Down 2.9 %

Shares of ONTF opened at $6.46 on Friday. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $8.35. The business’s fifty day simple moving average is $6.19 and its two-hundred day simple moving average is $6.17. The company has a market cap of $268.28 million, a price-to-earnings ratio of -6.39 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several research firms have commented on ONTF. JPMorgan Chase & Co. dropped their target price on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Friday, November 8th.

Insider Buying and Selling at ON24

In other news, CRO James Blackie sold 4,376 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total transaction of $27,787.60. Following the transaction, the executive now directly owns 437,161 shares of the company’s stock, valued at $2,775,972.35. This represents a 0.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Vattuone sold 5,216 shares of ON24 stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total value of $33,121.60. Following the completion of the sale, the chief financial officer now directly owns 563,567 shares of the company’s stock, valued at $3,578,650.45. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,045 shares of company stock worth $574,920. Company insiders own 32.30% of the company’s stock.

ON24 Company Profile

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.