Insider Selling: ON24 (NYSE:ONTF) CFO Sells 3,821 Shares of Stock

ON24, Inc. (NYSE:ONTF) CFO Steven Vattuone sold 3,821 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $5.28, for a total transaction of $20,174.88. Following the completion of the sale, the chief financial officer directly owned 575,381 shares of the company’s stock, valued at approximately $3,038,011.68. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Steven Vattuone also recently made the following trade(s):

• On Thursday, November 20th, Steven Vattuone sold 4,392 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total transaction of $23,277.60.
• On Tuesday, September 9th, Steven Vattuone sold 20,116 shares of ON24 stock. The stock was sold at an average price of $5.54, for a total transaction of $111,442.64.
• On Monday, September 8th, Steven Vattuone sold 4,195 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total value of $23,408.10.
• On Friday, September 5th, Steven Vattuone sold 5,251 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $28,985.52.
• On Thursday, September 4th, Steven Vattuone sold 6,394 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $35,294.88.
• On Wednesday, September 3rd, Steven Vattuone sold 3,549 shares of ON24 stock. The shares were sold at an average price of $5.43, for a total value of $19,271.07.
• On Tuesday, September 2nd, Steven Vattuone sold 3,222 shares of ON24 stock. The stock was sold at an average price of $5.60, for a total value of $18,043.20.

ON24 Trading Down 2.1%

ON24 stock traded down $0.12 on Monday, hitting $5.33. 917,692 shares of the stock traded hands, compared to its average volume of 155,971. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.03. The firm has a market cap of $225.14 million, a P/E ratio of -7.20 and a beta of 0.66. The business’s fifty day simple moving average is $5.53 and its 200 day simple moving average is $5.41.

ON24 (NYSE:ONTF) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $33.87 million. 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Canaccord Genuity Group boosted their target price on ON24 from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Finally, Robert W. Baird raised their price target on ON24 from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.00.

Institutional Trading of ON24

Institutional investors have recently added to or reduced their stakes in the business. Lynrock Lake LP increased its holdings in shares of ON24 by 4.5% in the 1st quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after purchasing an additional 329,715 shares in the last quarter. P.A.W. Capital Corp boosted its position in shares of ON24 by 87.5% during the second quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock valued at $1,629,000 after buying an additional 140,000 shares during the last quarter. Acadian Asset Management LLC increased its holdings in ON24 by 18.0% in the 1st quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock worth $4,319,000 after buying an additional 127,010 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in ON24 by 19.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after buying an additional 116,400 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in 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 buying an additional 102,396 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

About ON24

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.