Insider Selling: ON24 (NYSE:ONTF) Insider Sells 2,310 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 2,310 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $7.93, for a total value of $18,318.30. Following the completion of the sale, the insider directly owned 3,625,575 shares in the company, valued at approximately $28,750,809.75. This represents a 0.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Sharat Sharan also recently made the following trade(s):

• On Wednesday, December 31st, Sharat Sharan sold 50,332 shares of ON24 stock. The shares were sold at an average price of $7.97, for a total value of $401,146.04.
• On Wednesday, December 17th, Sharat Sharan sold 19,119 shares of ON24 stock. The stock was sold at an average price of $5.82, for a total value of $111,272.58.
• On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total transaction of $170,718.30.

ON24 Stock Up 0.4%

NYSE:ONTF traded up $0.04 on Tuesday, hitting $7.95. The stock had a trading volume of 177,207 shares, compared to its average volume of 410,504. The company has a market cap of $335.91 million, a PE ratio of -10.74 and a beta of 0.61. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $8.10. The business’s fifty day moving average is $7.17 and its 200 day moving average is $6.05.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $34.60 million during the quarter, compared to analyst estimates of $33.87 million. Equities analysts predict that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON24

Several institutional investors and hedge funds have recently modified their holdings of the stock. P.A.W. Capital Corp lifted its holdings in ON24 by 87.5% in the second quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock worth $1,629,000 after buying an additional 140,000 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in ON24 by 19.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after acquiring an additional 116,400 shares in the last quarter. Geode Capital Management LLC increased its stake in ON24 by 13.7% during the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after purchasing an additional 102,396 shares in the last quarter. Two Sigma Investments LP raised its holdings in ON24 by 75.8% in the third quarter. Two Sigma Investments LP now owns 206,340 shares of the company’s stock worth $1,180,000 after buying an additional 88,936 shares during the last quarter. Finally, Norges Bank bought a new position in shares of ON24 in the second quarter worth approximately $359,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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