Marshall Wace LLP Acquires Shares of 11,921 ON24, Inc. (NYSE:ONTF)

Marshall Wace LLP acquired a new stake in shares of ON24, Inc. (NYSE:ONTF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,921 shares of the company’s stock, valued at approximately $72,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its holdings in shares of ON24 by 413.1% during the first quarter. Los Angeles Capital Management LLC now owns 244,032 shares of the company’s stock worth $1,742,000 after purchasing an additional 196,472 shares during the period. GSA Capital Partners LLP increased its stake in ON24 by 18.3% during the 1st quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock valued at $584,000 after buying an additional 12,676 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in ON24 during the 1st quarter valued at about $461,000. Vanguard Group Inc. increased its stake in ON24 by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock valued at $17,447,000 after buying an additional 49,498 shares during the period. Finally, Acadian Asset Management LLC increased its stake in ON24 by 856.5% during the 1st quarter. Acadian Asset Management LLC now owns 469,544 shares of the company’s stock valued at $3,351,000 after buying an additional 420,455 shares during the period. 83.93% of the stock is currently owned by institutional investors.

Insider Activity at ON24

In related news, CFO Steven Vattuone sold 5,216 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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Steven Vattuone sold 5,216 shares of ON24 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 $33,121.60. Following the transaction, the chief financial officer now owns 563,567 shares of the company’s stock, valued at $3,578,650.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO James Blackie sold 4,376 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $2,775,972.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,300 shares of company stock valued at $768,498. 32.30% of the stock is currently owned by corporate insiders.

ON24 Stock Performance

ONTF stock opened at $6.21 on Monday. The stock has a market cap of $257.90 million, a P/E ratio of -6.03 and a beta of 0.47. The firm has a 50 day simple moving average of $6.14 and a 200 day simple moving average of $6.26. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $8.35.

ON24 (NYSE:ONTF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) 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%. Sell-side analysts predict that ON24, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

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 restated a “hold” rating on shares of ON24 in a research report on Wednesday, August 7th.

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.