ON24, Inc. (NYSE:ONTF) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in ON24, Inc. (NYSE:ONTF) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,690 shares of the company’s stock after buying an additional 5,337 shares during the period. Cubist Systematic Strategies LLC’s holdings in ON24 were worth $395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONTF. Acadian Asset Management LLC boosted its position 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 worth $3,351,000 after buying an additional 420,455 shares during the period. Los Angeles Capital Management LLC boosted its position in ON24 by 413.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 244,032 shares of the company’s stock worth $1,742,000 after acquiring an additional 196,472 shares during the period. Renaissance Technologies LLC increased its holdings in shares of ON24 by 12.9% during the second quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after purchasing an additional 83,000 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of ON24 during the first quarter valued at about $461,000. Finally, Vanguard Group Inc. lifted its holdings in ON24 by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after purchasing an additional 49,498 shares during the period. Institutional investors own 83.93% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other ON24 news, CRO James Blackie sold 4,376 shares of ON24 stock in a transaction dated 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 owns 437,161 shares of the company’s stock, valued at $2,775,972.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ON24 news, CRO James Blackie sold 4,376 shares of ON24 stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $27,787.60. Following the completion of the sale, the executive now owns 437,161 shares of the company’s stock, valued at $2,775,972.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jayesh Sahasi sold 17,731 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $6.03, for a total transaction of $106,917.93. Following the completion of the transaction, the insider now directly owns 736,516 shares in the company, valued at $4,441,191.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,031 shares of company stock valued at $875,416. Corporate insiders own 32.30% of the company’s stock.

ON24 Trading Up 1.7 %

NYSE:ONTF opened at $6.15 on Friday. The company has a 50-day moving average of $6.18 and a 200-day moving average of $6.30. ON24, Inc. has a twelve month low of $5.37 and a twelve month high of $8.35. The firm has a market cap of $257.47 million, a price-to-earnings ratio of -5.91 and a beta of 0.47.

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

ON24 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.