ON24, Inc. $ONTF Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in ON24, Inc. by 18.0% during the first quarter, now holding 830,851 shares valued at approximately $4.32 million.
• Insider sales revealed that CRO James Blackie sold 4,592 shares at an average price of $5.52, decreasing their ownership by 0.89%.
• Wall Street analysts have downgraded ON24 from a "buy" to a "hold" rating, with a consensus price target of $5.33.

Acadian Asset Management LLC raised its holdings in ON24, Inc. (NYSE:ONTF - Free Report) by 18.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 830,851 shares of the company's stock after acquiring an additional 127,010 shares during the quarter. Acadian Asset Management LLC owned 1.96% of ON24 worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Squarepoint Ops LLC raised its holdings in ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock worth $102,000 after buying an additional 5,713 shares during the period. AQR Capital Management LLC increased its holdings in shares of ON24 by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock valued at $113,000 after purchasing an additional 2,989 shares during the period. American Century Companies Inc. increased its holdings in shares of ON24 by 32.6% in the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company's stock valued at $215,000 after purchasing an additional 10,171 shares during the period. R Squared Ltd increased its holdings in shares of ON24 by 74.6% in the 1st quarter. R Squared Ltd now owns 41,415 shares of the company's stock valued at $215,000 after purchasing an additional 17,693 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of ON24 by 18.6% in the 4th quarter. Bank of America Corp DE now owns 47,999 shares of the company's stock valued at $310,000 after purchasing an additional 7,531 shares during the period. 83.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ON24

In other ON24 news, CRO James Blackie sold 4,592 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $5.52, for a total transaction of $25,347.84. Following the transaction, the executive owned 512,852 shares in the company, valued at approximately $2,830,943.04. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jayesh Sahasi sold 5,612 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $5.52, for a total value of $30,978.24. Following the transaction, the insider owned 742,521 shares in the company, valued at approximately $4,098,715.92. This trade represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,967 shares of company stock worth $1,244,506 in the last ninety days. 33.00% of the stock is currently owned by insiders.

ON24 Price Performance

ON24 stock opened at $5.49 on Monday. The stock has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.25. ON24, Inc. has a 52-week low of $4.35 and a 52-week high of $7.03. The firm has a market capitalization of $232.07 million, a P/E ratio of -6.38 and a beta of 0.66.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded ON24 from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.33.

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.

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