R Squared Ltd Buys 7,688 Shares of ON24, Inc. $ONTF

R Squared Ltd grew its stake in shares of ON24, Inc. (NYSE:ONTF) by 18.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,103 shares of the company’s stock after acquiring an additional 7,688 shares during the period. R Squared Ltd’s holdings in ON24 were worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of ON24 by 228.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after acquiring an additional 8,515 shares during the period. AQR Capital Management LLC grew its position in shares of ON24 by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock valued at $113,000 after acquiring an additional 2,989 shares during the period. American Century Companies Inc. grew its position in shares of ON24 by 32.6% during the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company’s stock valued at $215,000 after acquiring an additional 10,171 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of ON24 by 78.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company’s stock valued at $345,000 after acquiring an additional 29,290 shares during the period. Finally, Nuveen LLC bought a new position in shares of ON24 during the 1st quarter valued at approximately $357,000. 83.93% of the stock is owned by institutional investors.

Insider Activity

In other ON24 news, insider Sharat Sharan sold 32,093 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $5.45, for a total value of $174,906.85. Following the sale, the insider directly owned 3,591,899 shares in the company, valued at $19,575,849.55. This represents a 0.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO James Blackie sold 4,592 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $5.52, for a total transaction of $25,347.84. Following the completion of the sale, the executive owned 512,852 shares in the company, valued at $2,830,943.04. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,441 shares of company stock valued at $864,434. 33.00% of the stock is owned by company insiders.

ON24 Price Performance

NYSE ONTF opened at $5.65 on Friday. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.03. The stock has a market capitalization of $238.82 million, a PE ratio of -6.56 and a beta of 0.66. The company’s 50 day simple moving average is $5.58 and its two-hundred day simple moving average is $5.30.

Analyst Upgrades and Downgrades

Several research firms recently commented on ONTF. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a report on Saturday. Wall Street Zen downgraded shares of ON24 from a “buy” rating to a “hold” rating in a report on Saturday. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.33.

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.