AQR Capital Management LLC Sells 68,244 Shares of ON24, Inc. (NYSE:ONTF)

AQR Capital Management LLC decreased its position in ON24, Inc. (NYSE:ONTF) by 31.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 150,680 shares of the company’s stock after selling 68,244 shares during the period. AQR Capital Management LLC owned about 0.36% of ON24 worth $906,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of ON24 in the second quarter worth $72,000. Quadrature Capital Ltd lifted its position in ON24 by 8.9% during the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after buying an additional 2,401 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of ON24 by 8.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after buying an additional 5,337 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of ON24 in the 2nd quarter valued at about $427,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of ON24 in the first quarter valued at about $461,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ONTF shares. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, insider Jayesh Sahasi sold 4,468 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $28,371.80. Following the transaction, the insider now directly owns 727,913 shares of the company’s stock, valued at $4,622,247.55. This represents 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 this link. In related news, CFO Steven Vattuone sold 5,216 shares of the business’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 $33,121.60. Following the completion of the sale, the chief financial officer now directly owns 563,567 shares in the company, valued at $3,578,650.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jayesh Sahasi sold 4,468 shares of the 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 transaction, the insider now owns 727,913 shares in the company, valued at $4,622,247.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,300 shares of company stock valued at $768,498 over the last ninety days. 32.30% of the stock is currently owned by company insiders.

ON24 Stock Performance

Shares of NYSE:ONTF opened at $6.21 on Friday. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35. The company has a market capitalization of $257.90 million, a P/E ratio of -6.03 and a beta of 0.47. The company has a 50-day simple moving average of $6.14 and a 200 day simple moving average of $6.27.

ON24 (NYSE:ONTF) last released its quarterly earnings data 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). The business had revenue of $37.35 million during the quarter, compared to analyst estimates of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. As a group, equities analysts forecast that ON24, Inc. will post -0.73 earnings per share for the current year.

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.