Gladius Capital Management LP Boosts Stock Position in ON24, Inc. (NYSE:ONTF)

Gladius Capital Management LP raised its stake in ON24, Inc. (NYSE:ONTF) by 151.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,854 shares of the company’s stock after acquiring an additional 13,755 shares during the period. Gladius Capital Management LP’s holdings in ON24 were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC purchased a new position in ON24 during the third quarter worth about $62,000. Marshall Wace LLP acquired a new stake in shares of ON24 in the 2nd quarter valued at approximately $72,000. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 buying an additional 2,158 shares during the period. Quadrature Capital Ltd boosted its stake in shares of ON24 by 8.9% in the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after buying an additional 2,401 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings 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. Institutional investors and hedge funds own 83.93% of the company’s stock.

Insider Activity at ON24

In other news, CFO Steven Vattuone sold 7,094 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $5.86, for a total value of $41,570.84. Following the completion of the transaction, the chief financial officer now owns 542,974 shares of the company’s stock, valued at $3,181,827.64. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sharat Sharan sold 17,750 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $6.13, for a total transaction of $108,807.50. Following the transaction, the insider now directly owns 3,069,728 shares in the company, valued at $18,817,432.64. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,045 shares of company stock valued at $574,920. 32.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ONTF shares. JPMorgan Chase & Co. cut their price target on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research report on Friday, November 8th.

ON24 Stock Down 0.5 %

Shares of NYSE ONTF opened at $6.43 on Friday. The firm’s 50-day moving average is $6.21 and its two-hundred day moving average is $6.17. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $8.35.

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.