R Squared Ltd Buys Shares of 23,722 ON24, Inc. (NYSE:ONTF)

R Squared Ltd purchased a new position in shares of ON24, Inc. (NYSE:ONTF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,722 shares of the company’s stock, valued at approximately $153,000. R Squared Ltd owned approximately 0.06% of ON24 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ONTF. The Manufacturers Life Insurance Company lifted its holdings in ON24 by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock worth $81,000 after acquiring an additional 2,158 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of ON24 by 8.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock valued at $395,000 after purchasing an additional 5,337 shares during the period. FMR LLC increased its stake in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after purchasing an additional 8,528 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in ON24 during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Insider Buying and Selling at ON24

In other news, Director Dominique Trempont sold 4,250 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $6.98, for a total transaction of $29,665.00. Following the sale, the director now owns 263,100 shares in the company, valued at $1,836,438. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO James Blackie sold 4,649 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total transaction of $29,242.21. Following the completion of the transaction, the executive now directly owns 421,187 shares of the company’s stock, valued at $2,649,266.23. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,547 shares of company stock worth $1,038,854. Insiders own 32.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research report on Wednesday, January 15th.

ON24 Price Performance

Shares of ON24 stock opened at $6.91 on Thursday. The firm has a market cap of $287.76 million, a price-to-earnings ratio of -6.64 and a beta of 0.50. ON24, Inc. has a one year low of $5.37 and a one year high of $8.35. The stock’s 50-day moving average is $6.59 and its 200-day moving average is $6.36.

ON24 (NYSE:ONTF) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.26) earnings per share for the quarter. ON24 had a negative return on equity of 23.10% and a negative net margin of 28.63%. The firm had revenue of $36.33 million for the quarter, compared to analyst estimates of $35.55 million. During the same period last year, the company earned ($0.23) EPS. On average, equities analysts expect that ON24, Inc. will post -0.81 EPS for the current year.

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.