Los Angeles Capital Management LLC Decreases Stake in ON24, Inc. (NYSE:ONTF)

Los Angeles Capital Management LLC lowered its position in shares of ON24, Inc. (NYSE:ONTF) by 12.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 212,582 shares of the company’s stock after selling 31,450 shares during the quarter. Los Angeles Capital Management LLC owned about 0.51% of ON24 worth $1,278,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ONTF. Trexquant Investment LP purchased a new stake in shares of ON24 during the 4th quarter worth about $577,000. Quest Partners LLC acquired a new position in ON24 during the 4th quarter worth approximately $440,000. Circumference Group LLC acquired a new position in ON24 during the 4th quarter worth approximately $2,303,000. Horrell Capital Management Inc. lifted its position in ON24 by 32.5% during the 1st quarter. Horrell Capital Management Inc. now owns 387,196 shares of the company’s stock worth $2,765,000 after acquiring an additional 95,000 shares in the last quarter. Finally, GSA Capital Partners LLP lifted 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 acquiring an additional 12,676 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Stock Down 0.8 %

Shares of ONTF opened at $5.87 on Thursday. The business’s 50 day moving average is $6.21 and its two-hundred day moving average is $6.37. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35. The firm has a market cap of $245.75 million, a price-to-earnings ratio of -5.64 and a beta of 0.47.

ON24 (NYSE:ONTF) last announced its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (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 business had revenue of $37.35 million during the quarter, compared to analyst estimates of $36.31 million. On average, equities analysts expect that ON24, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTF has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target 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 report on Wednesday, August 7th.

Insider Buying and Selling at ON24

In other ON24 news, insider Jayesh Sahasi sold 17,731 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $6.03, for a total value of $106,917.93. Following the transaction, the insider now directly owns 736,516 shares of the company’s stock, valued at approximately $4,441,191.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jayesh Sahasi sold 17,731 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 736,516 shares of the company’s stock, valued at approximately $4,441,191.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Vattuone sold 5,216 shares of the company’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 $33,121.60. Following the sale, the chief financial officer now directly owns 563,567 shares in the company, valued at $3,578,650.45. The disclosure for this sale can be found here. Insiders have sold a total of 81,025 shares of company stock valued at $499,713 in the last three months. Corporate insiders own 32.30% of the company’s stock.

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.