Cubist Systematic Strategies LLC Boosts Holdings in ON24, Inc. (NYSE:ONTF)

Cubist Systematic Strategies LLC grew its position 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. The fund owned 65,690 shares of the company’s stock after purchasing an additional 5,337 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.16% of ON24 worth $395,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Los Angeles Capital Management LLC grew its stake 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 buying an additional 196,472 shares during the last quarter. Acadian Asset Management LLC increased its holdings 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 acquiring an additional 420,455 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of ON24 by 12.9% in the 2nd 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 last quarter. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 49,498 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in ON24 by 18.3% during the 1st quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock worth $584,000 after purchasing an additional 12,676 shares during the last quarter. 83.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ON24

In related news, insider Sharat Sharan sold 17,750 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $6.13, for a total transaction of $108,807.50. Following the completion of the sale, the insider now directly owns 3,069,728 shares in the company, valued at approximately $18,817,432.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sharat Sharan sold 17,750 shares of ON24 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $6.13, for a total transaction of $108,807.50. Following the sale, the insider now owns 3,069,728 shares of the company’s stock, valued at approximately $18,817,432.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Vattuone sold 7,094 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.86, for a total transaction of $41,570.84. Following the transaction, the chief financial officer now directly owns 542,974 shares of the company’s stock, valued at $3,181,827.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,300 shares of company stock valued at $768,498 over the last 90 days. Corporate insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ONTF. JPMorgan Chase & Co. lowered their price objective on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company 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.

ON24 Stock Performance

Shares of ONTF opened at $6.21 on Monday. The company has a market capitalization of $257.90 million, a P/E ratio of -6.03 and a beta of 0.47. The business’s 50-day moving average is $6.14 and its two-hundred day moving average is $6.26. ON24, Inc. has a fifty-two week low of $5.37 and a fifty-two week high of $8.35.

ON24 (NYSE:ONTF) last posted its earnings results 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). ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. The firm had revenue of $37.35 million for the quarter, compared to analysts’ expectations of $36.31 million. Analysts forecast that ON24, Inc. will post -0.73 EPS 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.