Trexquant Investment LP Takes Position in ON24, Inc. (NYSE:ONTF)

Trexquant Investment LP acquired a new stake in ON24, Inc. (NYSE:ONTFFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,170 shares of the company’s stock, valued at approximately $577,000. Trexquant Investment LP owned 0.18% of ON24 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of ON24 in the fourth quarter valued at approximately $71,000. Allspring Global Investments Holdings LLC lifted its position in ON24 by 62.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,673 shares of the company’s stock worth $87,000 after purchasing an additional 5,258 shares during the period. Corton Capital Inc. lifted its position in ON24 by 65.0% in the third quarter. Corton Capital Inc. now owns 33,401 shares of the company’s stock worth $211,000 after purchasing an additional 13,159 shares during the period. Quadrature Capital Ltd bought a new position in ON24 in the third quarter worth $286,000. Finally, Los Angeles Capital Management LLC bought a new position in ON24 in the fourth quarter worth $375,000. 83.93% of the stock is owned by institutional investors.

ON24 Price Performance

Shares of NYSE ONTF opened at $5.94 on Friday. The business has a fifty day moving average of $6.66 and a two-hundred day moving average of $7.13. ON24, Inc. has a 52-week low of $5.73 and a 52-week high of $9.09.

ON24 (NYSE:ONTFGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.05). The company had revenue of $37.73 million for the quarter, compared to the consensus estimate of $37.00 million. ON24 had a negative net margin of 28.35% and a negative return on equity of 19.97%. As a group, equities analysts forecast that ON24, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ONTF shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research report on Friday, May 17th. Canaccord Genuity Group reduced their target price on ON24 from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 23rd.

Get Our Latest Research Report on ONTF

Insider Buying and Selling at ON24

In other news, CFO Steven Vattuone sold 9,314 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $6.62, for a total value of $61,658.68. Following the completion of the sale, the chief financial officer now directly owns 364,189 shares in the company, valued at $2,410,931.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Sharat Sharan sold 21,465 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $6.73, for a total value of $144,459.45. Following the completion of the sale, the insider now directly owns 3,102,983 shares in the company, valued at $20,883,075.59. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven Vattuone sold 9,314 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $6.62, for a total value of $61,658.68. Following the completion of the sale, the chief financial officer now owns 364,189 shares of the company’s stock, valued at $2,410,931.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,170 shares of company stock valued at $356,039. 32.30% of the stock is currently owned by company insiders.

ON24 Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ON24 (NYSE:ONTF)

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