ON24, Inc. (NYSE:ONTF) Short Interest Down 38.9% in January

ON24, Inc. (NYSE:ONTF) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 656,708 shares, a drop of 38.9% from the December 31st total of 1,075,515 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 540,530 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 540,530 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.3% of the shares of the company are sold short.

Insider Buying and Selling at ON24

In related news, CRO James Blackie sold 16,000 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $7.96, for a total transaction of $127,360.00. Following the completion of the transaction, the executive directly owned 478,861 shares of the company’s stock, valued at approximately $3,811,733.56. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jayesh Sahasi sold 34,753 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $7.98, for a total value of $277,328.94. Following the transaction, the insider owned 672,527 shares of the company’s stock, valued at approximately $5,366,765.46. The trade was a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 338,716 shares of company stock valued at $2,327,474. 33.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ON24

Several hedge funds and other institutional investors have recently made changes to their positions in ONTF. Nisa Investment Advisors LLC raised its position in ON24 by 139.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock valued at $39,000 after purchasing an additional 2,825 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in ON24 during the third quarter worth about $60,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of ON24 in the 3rd quarter worth approximately $61,000. Public Employees Retirement System of Ohio increased its position in shares of ON24 by 228.5% in the second quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after buying an additional 8,515 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in ON24 during the second quarter worth about $78,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Performance

Shares of NYSE:ONTF traded down $0.01 during midday trading on Friday, hitting $7.97. The company’s stock had a trading volume of 293,338 shares, compared to its average volume of 445,830. The business’s 50 day simple moving average is $6.84 and its 200 day simple moving average is $5.91. The company has a market cap of $336.99 million, a P/E ratio of -10.77 and a beta of 0.61. ON24 has a 12-month low of $4.35 and a 12-month high of $8.10.

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

Wall Street Analyst Weigh In

ONTF has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Canaccord Genuity Group increased their target price on ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research report on Wednesday, December 31st. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a report on Thursday, January 22nd. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $7.40.

About ON24

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.