ON24 (NYSE:ONTF) CRO Sells $24,692.70 in Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 4,659 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $5.30, for a total value of $24,692.70. Following the completion of the sale, the executive owned 501,411 shares in the company, valued at $2,657,478.30. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Blackie also recently made the following trade(s):

• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total value of $16,806.96.
• On Friday, September 5th, James Blackie sold 3,770 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total transaction of $20,810.40.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total transaction of $25,347.84.
• On Wednesday, September 3rd, James Blackie sold 2,549 shares of ON24 stock. The shares were sold at an average price of $5.43, for a total transaction of $13,841.07.
• On Tuesday, September 2nd, James Blackie sold 2,314 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total transaction of $12,958.40.

ON24 Stock Performance

Shares of ON24 stock opened at $5.59 on Thursday. The stock has a market capitalization of $236.35 million, a price-to-earnings ratio of -7.55 and a beta of 0.66. The firm’s 50-day moving average price is $5.53 and its two-hundred day moving average price is $5.42. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $7.03.

ON24 (NYSE:ONTF) last posted its earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.87 million. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. 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, equities research analysts predict that ON24, Inc. will post -0.81 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Canaccord Genuity Group increased 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. Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Robert W. Baird increased their price objective on shares of ON24 from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Hedge Funds Weigh In On ON24

Large investors have recently made changes to their positions in the company. Lynrock Lake LP boosted its holdings in ON24 by 4.5% in the first quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock valued at $39,829,000 after acquiring an additional 329,715 shares during the last quarter. P.A.W. Capital Corp lifted its position in ON24 by 87.5% during the 2nd quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock valued at $1,629,000 after purchasing an additional 140,000 shares during the period. Acadian Asset Management LLC boosted its stake in shares of ON24 by 18.0% in the 1st quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock valued at $4,319,000 after purchasing an additional 127,010 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of ON24 by 19.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock valued at $4,063,000 after purchasing an additional 116,400 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ON24 by 13.7% during 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 period. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.