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

Gladius Capital Management LP boosted its stake in ON24, Inc. (NYSE:ONTF) by 151.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,854 shares of the company’s stock after purchasing an additional 13,755 shares during the period. Gladius Capital Management LP owned about 0.05% of ON24 worth $140,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ONTF. Vanguard Group Inc. grew its holdings in shares of ON24 by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock valued at $17,447,000 after purchasing an additional 49,498 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ON24 by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock worth $8,830,000 after acquiring an additional 22,577 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of ON24 by 12.9% during the second quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock worth $4,366,000 after acquiring an additional 83,000 shares during the period. Acadian Asset Management LLC raised its stake in shares of ON24 by 19.2% in the second quarter. Acadian Asset Management LLC now owns 559,602 shares of the company’s stock valued at $3,362,000 after acquiring an additional 90,058 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ON24 by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 98,089 shares of the company’s stock valued at $590,000 after purchasing an additional 12,400 shares during the period. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CRO James Blackie sold 4,376 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 $27,787.60. Following the transaction, the executive now owns 437,161 shares in the company, valued at $2,775,972.35. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer now owns 542,974 shares of the company’s stock, valued at approximately $3,181,827.64. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,045 shares of company stock worth $574,920 in the last ninety days. 32.30% of the stock is owned by corporate insiders.

ON24 Price Performance

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

Analyst Upgrades and Downgrades

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

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.