P.A.W. Capital Corp Buys 140,000 Shares of ON24, Inc. $ONTF

P.A.W. Capital Corp lifted its stake in shares of ON24, Inc. (NYSE:ONTF) by 87.5% during the second quarter, Holdings Channel.com reports. The firm owned 300,000 shares of the company’s stock after acquiring an additional 140,000 shares during the period. ON24 accounts for about 3.1% of P.A.W. Capital Corp’s portfolio, making the stock its 14th biggest position. P.A.W. Capital Corp’s holdings in ON24 were worth $1,629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ONTF. Lynrock Lake LP boosted its holdings in ON24 by 4.5% in the first quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after acquiring an additional 329,715 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ON24 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock worth $4,629,000 after purchasing an additional 102,396 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of ON24 by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock worth $4,590,000 after purchasing an additional 14,851 shares in the last quarter. Palogic Value Management L.P. grew its position in ON24 by 23.1% in the 1st quarter. Palogic Value Management L.P. now owns 320,000 shares of the company’s stock valued at $1,664,000 after purchasing an additional 60,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in ON24 by 3.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 188,836 shares of the company’s stock valued at $982,000 after purchasing an additional 7,139 shares in the last quarter. 83.93% of the stock is owned by institutional investors.

ON24 Stock Performance

ON24 stock opened at $5.28 on Wednesday. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $7.03. The firm’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $5.40. The stock has a market cap of $223.42 million, a PE ratio of -7.14 and a beta of 0.66.

ON24 (NYSE:ONTF) last posted its earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $33.87 million. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS. Q4 2025 guidance at 0.010-0.020 EPS. As a group, analysts predict that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONTF. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group raised their price target on shares of ON24 from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. Robert W. Baird lifted their price target on ON24 from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $6.00.

Insiders Place Their Bets

In related news, insider Jayesh Sahasi sold 5,612 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $5.52, for a total transaction of $30,978.24. Following the completion of the transaction, the insider owned 742,521 shares in the company, valued at approximately $4,098,715.92. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO James Blackie sold 4,592 shares of ON24 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 completion of the sale, the executive directly owned 512,852 shares in the company, valued at approximately $2,830,943.04. This represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 148,176 shares of company stock worth $816,164 in the last ninety days. Company insiders own 33.00% of the company’s stock.

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.