Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells 39,196 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 39,196 shares of ON24 stock in a transaction on Monday, March 31st. The shares were sold at an average price of $5.23, for a total value of $204,995.08. Following the transaction, the insider now owns 3,164,092 shares of the company’s stock, valued at $16,548,201.16. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, January 13th, Sharat Sharan sold 36,189 shares of ON24 stock. The shares were sold at an average price of $6.20, for a total value of $224,371.80.

ON24 Stock Performance

ONTF opened at $4.98 on Friday. The company’s 50-day simple moving average is $6.09 and its two-hundred day simple moving average is $6.29. The stock has a market capitalization of $210.74 million, a P/E ratio of -4.79 and a beta of 0.55. ON24, Inc. has a 52-week low of $4.78 and a 52-week high of $7.29.

Wall Street Analyst Weigh In

ONTF has been the subject of a number of analyst reports. William Blair restated a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock worth $624,000 after purchasing an additional 33,352 shares during the period. Jane Street Group LLC grew its holdings in shares of ON24 by 91.2% in the third quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after acquiring an additional 29,148 shares during the period. P.A.W. Capital Corp purchased a new stake in ON24 during the fourth quarter valued at $484,000. FMR LLC lifted its holdings in ON24 by 45.0% in the third quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares during the period. Finally, SG Americas Securities LLC boosted its position in ON24 by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after purchasing an additional 3,891 shares during the last quarter. Institutional investors 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.