Insider Selling: ON24 (NYSE:ONTF) Insider Sells $277,328.94 in Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 34,753 shares of the business’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $7.98, for a total value of $277,328.94. Following the completion of the transaction, the insider directly owned 672,527 shares of the company’s stock, valued at approximately $5,366,765.46. This trade represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 2nd, Jayesh Sahasi sold 11,681 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total value of $66,114.46.
• On Monday, December 1st, Jayesh Sahasi sold 12,372 shares of ON24 stock. The shares were sold at an average price of $5.70, for a total value of $70,520.40.
• On Thursday, November 20th, Jayesh Sahasi sold 4,099 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total value of $21,724.70.

ON24 Price Performance

Shares of NYSE ONTF opened at $7.97 on Monday. The stock has a market capitalization of $336.76 million, a price-to-earnings ratio of -10.76 and a beta of 0.61. The firm’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $5.55. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $8.10.

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 the consensus estimate 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 firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.87 million. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. Analysts anticipate that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTF. Federated Hermes Inc. boosted its holdings in ON24 by 0.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company’s stock worth $6,736,000 after buying an additional 5,347 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ON24 by 13.7% during the second quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after acquiring an additional 102,396 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of ON24 by 1.8% in the second quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock valued at $4,590,000 after acquiring an additional 14,851 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of ON24 by 4.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock worth $1,749,000 after acquiring an additional 13,600 shares during the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ONTF. Wall Street Zen upgraded ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Canaccord Genuity Group increased their price target on ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a research report on Wednesday. Robert W. Baird raised their price objective on ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a report on Friday. 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. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $7.40.

ON24 Company Profile

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.