Los Angeles Capital Management LLC Sells 30,800 Shares of ON24, Inc. (NYSE:ONTF)

Los Angeles Capital Management LLC decreased its stake in shares of ON24, Inc. (NYSE:ONTF) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,882 shares of the company’s stock after selling 30,800 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.38% of ON24 worth $1,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in ON24 by 48.7% during the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after buying an additional 33,352 shares in the last quarter. Bank of New York Mellon Corp increased its position in ON24 by 13.6% during the 4th quarter. Bank of New York Mellon Corp now owns 85,356 shares of the company’s stock valued at $551,000 after purchasing an additional 10,192 shares during the period. P.A.W. Capital Corp purchased a new position in ON24 during the 4th quarter valued at about $484,000. Jane Street Group LLC increased its position in ON24 by 91.2% during the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock valued at $374,000 after purchasing an additional 29,148 shares during the period. Finally, FMR LLC increased its position in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after purchasing an additional 8,528 shares during the period. Institutional investors own 83.93% of the company’s stock.

ON24 Trading Up 0.5 %

Shares of NYSE ONTF opened at $5.59 on Friday. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $7.38. The company has a 50 day simple moving average of $6.55 and a two-hundred day simple moving average of $6.41. The stock has a market cap of $232.83 million, a price-to-earnings ratio of -5.38 and a beta of 0.52.

Insider Activity at ON24

In related news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $6.98, for a total value of $29,665.00. Following the completion of the sale, the director now owns 263,100 shares of the company’s stock, valued at approximately $1,836,438. The trade was a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jayesh Sahasi sold 5,047 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $7.00, for a total transaction of $35,329.00. Following the completion of the sale, the insider now directly owns 692,045 shares of the company’s stock, valued at approximately $4,844,315. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,637 shares of company stock worth $1,110,727 in the last three months. Company insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ONTF shares. William Blair reissued a “market perform” rating on shares of ON24 in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday.

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.