Jayesh Sahasi Sells 4,608 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 4,608 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $5.52, for a total transaction of $25,436.16. Following the sale, the insider directly owned 737,913 shares of the company’s stock, valued at $4,073,279.76. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 8th, Jayesh Sahasi sold 3,681 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total transaction of $20,539.98.
• On Thursday, September 4th, Jayesh Sahasi sold 5,612 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $30,978.24.
• On Wednesday, September 3rd, Jayesh Sahasi sold 3,114 shares of ON24 stock. The shares were sold at an average price of $5.43, for a total value of $16,909.02.
• On Tuesday, September 2nd, Jayesh Sahasi sold 2,828 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total value of $15,836.80.
• On Wednesday, August 20th, Jayesh Sahasi sold 2,888 shares of ON24 stock. The stock was sold at an average price of $5.21, for a total value of $15,046.48.

ON24 Stock Performance

NYSE ONTF opened at $5.44 on Thursday. The business has a fifty day moving average price of $5.27 and a 200 day moving average price of $5.27. The company has a market cap of $229.95 million, a P/E ratio of -6.32 and a beta of 0.66. ON24, Inc. has a one year low of $4.35 and a one year high of $7.03.

Institutional Trading of ON24

Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after acquiring an additional 3,518 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ON24 by 30.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,632 shares of the company’s stock valued at $308,000 after purchasing an additional 11,234 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of ON24 in the fourth quarter valued at about $777,000. Bank of America Corp DE increased its position in ON24 by 18.6% during the fourth quarter. Bank of America Corp DE now owns 47,999 shares of the company’s stock worth $310,000 after purchasing an additional 7,531 shares during the last quarter. Finally, Millennium Management LLC increased its position in ON24 by 84.8% during the fourth quarter. Millennium Management LLC now owns 142,387 shares of the company’s stock worth $920,000 after purchasing an additional 65,322 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of ON24 from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.33.

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.