ON24, Inc. (NYSE:ONTF) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of ON24, Inc. (NYSE:ONTF) by 14.5% during the second quarter, HoldingsChannel.com reports. The firm owned 98,089 shares of the company’s stock after purchasing an additional 12,400 shares during the period. Bank of New York Mellon Corp’s holdings in ON24 were worth $590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd lifted its position in shares of ON24 by 8.9% in the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after acquiring an additional 2,401 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in ON24 during the 1st quarter worth $461,000. Trexquant Investment LP purchased a new stake in shares of ON24 during the fourth quarter worth $577,000. GSA Capital Partners LLP grew its holdings in shares of ON24 by 18.3% during the first quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock worth $584,000 after buying an additional 12,676 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of ON24 by 413.1% in the first quarter. Los Angeles Capital Management LLC now owns 244,032 shares of the company’s stock valued at $1,742,000 after buying an additional 196,472 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

Insider Buying and Selling at ON24

In related news, insider Jayesh Sahasi sold 4,468 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 $28,371.80. Following the completion of the transaction, the insider now directly owns 727,913 shares in the company, valued at $4,622,247.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jayesh Sahasi sold 4,468 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $28,371.80. Following the sale, the insider now owns 727,913 shares of the company’s stock, valued at $4,622,247.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Vattuone sold 5,216 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total transaction of $33,121.60. Following the transaction, the chief financial officer now owns 563,567 shares of the company’s stock, valued at approximately $3,578,650.45. The disclosure for this sale can be found here. Insiders sold a total of 126,084 shares of company stock valued at $777,426 in the last three months. 32.30% of the stock is owned by corporate insiders.

ON24 Price Performance

Shares of ONTF stock opened at $6.03 on Tuesday. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $8.35. The firm has a market cap of $250.43 million, a PE ratio of -5.80 and a beta of 0.47. The company has a 50-day moving average of $6.23 and a two-hundred day moving average of $6.33.

ON24 (NYSE:ONTF) last posted its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. The company had revenue of $37.35 million during the quarter, compared to analyst estimates of $36.31 million. Sell-side analysts anticipate that ON24, Inc. will post -0.73 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.