R Squared Ltd Makes New $153,000 Investment in ON24, Inc. (NYSE:ONTF)

R Squared Ltd bought a new stake in ON24, Inc. (NYSE:ONTF) during the 4th quarter, Holdings Channel reports. The firm bought 23,722 shares of the company’s stock, valued at approximately $153,000.

A number of other large investors also recently made changes to their positions in ONTF. Dimensional Fund Advisors LP grew its holdings in ON24 by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock valued at $8,830,000 after buying an additional 22,577 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of ON24 in the second quarter valued at about $72,000. Cubist Systematic Strategies LLC increased its position in ON24 by 8.8% during the second quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after acquiring an additional 5,337 shares during the period. Squarepoint Ops LLC acquired a new stake in ON24 in the 2nd quarter worth about $427,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in ON24 by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after purchasing an additional 2,158 shares during the period. Institutional investors own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a report on Wednesday, January 15th.

ON24 Stock Performance

ONTF opened at $6.91 on Thursday. 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 $287.76 million, a P/E ratio of -6.64 and a beta of 0.50. The business’s fifty day moving average is $6.59 and its 200-day moving average is $6.36.

ON24 (NYSE:ONTF) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter. The firm had revenue of $36.33 million for the quarter, compared to analyst estimates of $35.55 million. ON24 had a negative return on equity of 23.10% and a negative net margin of 28.63%. During the same quarter in the previous year, the company earned ($0.23) earnings per share. On average, research analysts predict that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Activity at ON24

In related news, Director Dominique Trempont sold 4,250 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $6.40, for a total transaction of $27,200.00. Following the completion of the transaction, the director now directly owns 258,850 shares in the company, valued at $1,656,640. This represents a 1.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Vattuone sold 4,383 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total transaction of $27,569.07. Following the completion of the transaction, the chief financial officer now directly owns 583,591 shares of the company’s stock, valued at approximately $3,670,787.39. The trade was a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,547 shares of company stock valued at $1,038,854 over the last three months. 32.30% of the stock is owned by insiders.

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.