Renaissance Technologies LLC Boosts Stock Position in ON24, Inc. (NYSE:ONTF)

Renaissance Technologies LLC grew its holdings in ON24, Inc. (NYSE:ONTF) by 12.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 726,434 shares of the company’s stock after purchasing an additional 83,000 shares during the period. Renaissance Technologies LLC owned about 1.74% of ON24 worth $4,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ONTF. Vanguard Group Inc. lifted its stake 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 during the period. Dimensional Fund Advisors LP lifted its position in shares of ON24 by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock worth $8,830,000 after purchasing an additional 22,577 shares during the period. Acadian Asset Management LLC boosted its stake in shares of ON24 by 19.2% during the second quarter. Acadian Asset Management LLC now owns 559,602 shares of the company’s stock valued at $3,362,000 after purchasing an additional 90,058 shares in the last quarter. Circumference Group LLC bought a new position in shares of ON24 during the fourth quarter valued at approximately $2,303,000. Finally, Los Angeles Capital Management LLC increased its holdings in ON24 by 413.1% during the first quarter. Los Angeles Capital Management LLC now owns 244,032 shares of the company’s stock valued at $1,742,000 after buying an additional 196,472 shares during the period. 83.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ONTF. JPMorgan Chase & Co. lowered their target price 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 reissued a “hold” rating on shares of ON24 in a research report on Wednesday, August 7th.

ON24 Trading Down 0.3 %

Shares of ONTF opened at $6.20 on Friday. The stock has a 50 day moving average price of $6.22 and a 200 day moving average price of $6.32. ON24, Inc. has a one year low of $5.37 and a one year 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 analysts’ expectations of $36.31 million. ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. Equities analysts anticipate that ON24, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at ON24

In other news, insider Sharat Sharan sold 37,965 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total transaction of $236,142.30. Following the sale, the insider now owns 3,087,478 shares of the company’s stock, valued at $19,204,113.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sharat Sharan sold 37,965 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total transaction of $236,142.30. Following the sale, the insider now directly owns 3,087,478 shares in the company, valued at $19,204,113.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jayesh Sahasi sold 17,731 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $6.03, for a total transaction of $106,917.93. Following the completion of the sale, the insider now directly owns 736,516 shares in the company, valued at $4,441,191.48. The disclosure for this sale can be found here. Insiders sold a total of 126,084 shares of company stock worth $777,426 over the last ninety days. Company 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.