Squarepoint Ops LLC Takes Position in ON24, Inc. (NYSE:ONTF)

Squarepoint Ops LLC acquired a new position in ON24, Inc. (NYSE:ONTF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,981 shares of the company’s stock, valued at approximately $427,000. Squarepoint Ops LLC owned approximately 0.17% of ON24 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ONTF. Vanguard Group Inc. lifted its holdings in ON24 by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after buying an additional 49,498 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ON24 by 1.6% during 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 last quarter. Renaissance Technologies LLC boosted its position in ON24 by 12.9% during the second quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after purchasing an additional 83,000 shares in the last quarter. Acadian Asset Management LLC grew its stake in ON24 by 19.2% in 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 during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in ON24 by 413.1% in 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 in the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Steven Vattuone sold 5,216 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ON24 news, CFO Steven Vattuone sold 5,216 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 $33,121.60. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sharat Sharan sold 37,965 shares of ON24 stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total value of $236,142.30. Following the completion of the sale, the insider now owns 3,087,478 shares in the company, valued at $19,204,113.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,300 shares of company stock worth $768,498 over the last ninety days. Corporate insiders own 32.30% of the company’s stock.

ON24 Stock Performance

ONTF stock opened at $6.00 on Friday. ON24, Inc. has a one year low of $5.37 and a one year high of $8.35. The firm’s fifty day moving average is $6.14 and its 200 day moving average is $6.28. The firm has a market cap of $251.19 million, a PE ratio of -5.77 and a beta of 0.47.

ON24 (NYSE:ONTF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. The company had revenue of $37.35 million for the quarter, compared to analyst estimates of $36.31 million. Research analysts predict that ON24, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About ON24

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.