SG Americas Securities LLC Purchases Shares of 10,201 ON24, Inc. (NYSE:ONTF)

SG Americas Securities LLC purchased a new stake in ON24, Inc. (NYSE:ONTF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,201 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds also recently modified their holdings of ONTF. Marshall Wace LLP acquired a new position in ON24 during the 2nd quarter worth approximately $72,000. The Manufacturers Life Insurance Company raised its holdings in shares of ON24 by 19.1% in the second 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 last quarter. Quadrature Capital Ltd boosted its holdings in ON24 by 8.9% during the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after purchasing an additional 2,401 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in ON24 by 8.8% in the second quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock valued at $395,000 after purchasing an additional 5,337 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in ON24 in the 2nd quarter valued at $427,000. 83.93% of the stock is owned by institutional investors and hedge funds.

ON24 Trading Up 2.2 %

Shares of ONTF opened at $6.37 on Tuesday. The company has a market cap of $264.34 million, a price-to-earnings ratio of -6.18 and a beta of 0.47. The company’s fifty day simple moving average is $6.19 and its 200 day simple moving average is $6.20. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $8.35.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $37.35 million for the quarter, compared to analyst estimates of $36.31 million. As a group, research analysts forecast that ON24, Inc. will post -0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTF has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective 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 reiterated a “hold” rating on shares of ON24 in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, Director Dominique Trempont sold 34,133 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $6.22, for a total value of $212,307.26. Following the completion of the sale, the director now directly owns 283,250 shares of the company’s stock, valued at $1,761,815. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other ON24 news, Director Dominique Trempont sold 34,133 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $6.22, for a total value of $212,307.26. Following the transaction, the director now directly owns 283,250 shares of the company’s stock, valued at $1,761,815. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jayesh Sahasi sold 4,468 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total transaction of $28,371.80. Following the sale, the insider now owns 727,913 shares of the company’s stock, valued at $4,622,247.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,300 shares of company stock valued at $768,498 over the last 90 days. 32.30% of the stock is currently owned by insiders.

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.