The Manufacturers Life Insurance Company Has $81,000 Position in ON24, Inc. (NYSE:ONTF)

The Manufacturers Life Insurance Company boosted its stake in ON24, Inc. (NYSE:ONTF) by 19.1% in the second quarter, HoldingsChannel reports. The firm owned 13,477 shares of the company’s stock after buying an additional 2,158 shares during the period. The Manufacturers Life Insurance Company’s holdings in ON24 were worth $81,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONTF. Los Angeles Capital Management LLC boosted its position in shares of 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 purchasing an additional 196,472 shares in the last quarter. Acadian Asset Management LLC raised 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 worth $3,351,000 after buying an additional 420,455 shares during the period. Renaissance Technologies LLC raised its stake in ON24 by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock worth $4,366,000 after buying an additional 83,000 shares during the period. Vanguard Group Inc. boosted 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 acquiring an additional 49,498 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in ON24 by 18.3% in the first quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock valued at $584,000 after acquiring an additional 12,676 shares during the period. 83.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price 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 restated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

ON24 Stock Performance

Shares of ONTF opened at $6.37 on Monday. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $8.35. The stock has a 50 day moving average price of $6.18 and a two-hundred day moving average price of $6.23. The firm has a market capitalization of $264.55 million, a P/E ratio of -6.18 and a beta of 0.47.

ON24 (NYSE:ONTF) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $36.31 million. On average, equities analysts forecast that ON24, Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In related news, Director Dominique Trempont sold 34,133 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $6.22, for a total transaction of $212,307.26. Following the transaction, the director now directly owns 283,250 shares in the company, valued at approximately $1,761,815. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ON24 news, insider Jayesh Sahasi sold 4,468 shares of the company’s 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 owns 727,913 shares in the company, valued at $4,622,247.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dominique Trempont sold 34,133 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $6.22, for a total value of $212,307.26. Following the sale, the director now directly owns 283,250 shares of the company’s stock, valued at approximately $1,761,815. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,300 shares of company stock worth $768,498 over the last quarter. Insiders own 32.30% of the company’s stock.

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.