Insider Selling: ON24 (NYSE:ONTF) Insider Sells 19,119 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 19,119 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $5.82, for a total value of $111,272.58. Following the sale, the insider owned 3,622,891 shares of the company’s stock, valued at $21,085,225.62. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• On Thursday, October 16th, Sharat Sharan sold 32,093 shares of ON24 stock. The stock was sold at an average price of $5.45, for a total transaction of $174,906.85.

ON24 Stock Performance

NYSE:ONTF traded up $0.08 during mid-day trading on Thursday, reaching $5.81. The stock had a trading volume of 148,173 shares, compared to its average volume of 156,878. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.03. The business has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $5.46. The firm has a market capitalization of $245.65 million, a price-to-earnings ratio of -7.85 and a beta of 0.66.

ON24 (NYSE:ONTF) last issued its earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.87 million. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. As a group, sell-side analysts expect that ON24, Inc. will post -0.81 earnings per share for the current year.

Institutional Trading of ON24

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV acquired a new position in ON24 during the third quarter valued at approximately $60,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of ON24 in the 3rd quarter valued at $61,000. Public Employees Retirement System of Ohio lifted its holdings in shares of ON24 by 228.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after acquiring an additional 8,515 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in ON24 during the 2nd quarter worth $78,000. Finally, Russell Investments Group Ltd. increased its holdings in ON24 by 43.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the company’s stock valued at $91,000 after purchasing an additional 4,823 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Wall Street Analyst Weigh In

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

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.