ON24, Inc. (NYSE:ONTF) Insider Sells $28,371.80 in Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 4,468 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $28,371.80. Following the completion of the sale, the insider now owns 727,913 shares of the company’s stock, valued at approximately $4,622,247.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jayesh Sahasi also recently made the following trade(s):

• On Thursday, July 11th, Jayesh Sahasi sold 17,731 shares of ON24 stock. The shares were sold at an average price of $6.03, for a total value of $106,917.93.
• On Wednesday, July 3rd, Jayesh Sahasi sold 1,800 shares of ON24 stock. The stock was sold at an average price of $6.00, for a total transaction of $10,800.00.
• On Monday, July 1st, Jayesh Sahasi sold 3 shares of ON24 stock. The shares were sold at an average price of $6.00, for a total transaction of $18.00.

ON24 Stock Performance

ONTF stock traded down $0.04 during mid-day trading on Thursday, hitting $6.15. 96,290 shares of the company were exchanged, compared to its average volume of 192,112. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $8.35. The firm’s 50 day simple moving average is $6.21 and its 200 day simple moving average is $6.44. The firm has a market cap of $255.41 million, a P/E ratio of -5.91 and a beta of 0.47.

ON24 (NYSE:ONTF) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $37.35 million for the quarter, compared to analyst estimates of $36.31 million. ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. On average, equities research analysts predict that ON24, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of ON24

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ON24 by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after buying an additional 49,498 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in ON24 by 1.6% during the 2nd 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 during the last quarter. Renaissance Technologies LLC grew its stake in shares of ON24 by 12.9% during the 2nd 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 in the last quarter. Acadian Asset Management LLC raised its holdings 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 purchasing an additional 90,058 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its position in shares of ON24 by 32.5% in the first quarter. Horrell Capital Management Inc. now owns 387,196 shares of the company’s stock worth $2,765,000 after purchasing an additional 95,000 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ONTF. JPMorgan Chase & Co. decreased 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 report on Wednesday, August 7th.

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.