Jayesh Sahasi Sells 35,564 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 35,564 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $5.48, for a total value of $194,890.72. Following the transaction, the insider now owns 644,989 shares in the company, valued at $3,534,539.72. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, March 20th, Jayesh Sahasi sold 3,696 shares of ON24 stock. The stock was sold at an average price of $5.41, for a total value of $19,995.36.
• On Thursday, February 20th, Jayesh Sahasi sold 3,315 shares of ON24 stock. The stock was sold at an average price of $6.38, for a total value of $21,149.70.
• On Monday, February 10th, Jayesh Sahasi sold 1,637 shares of ON24 stock. The stock was sold at an average price of $6.85, for a total value of $11,213.45.

ON24 Stock Down 2.1 %

Shares of ONTF traded down $0.12 on Thursday, hitting $5.39. 94,678 shares of the stock traded hands, compared to its average volume of 138,878. The stock’s 50 day moving average is $6.31 and its two-hundred day moving average is $6.35. The firm has a market capitalization of $224.29 million, a P/E ratio of -5.18 and a beta of 0.55. ON24, Inc. has a 1 year low of $5.36 and a 1 year high of $7.38.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTF. SG Americas Securities LLC boosted its stake in shares of ON24 by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares during the period. Squarepoint Ops LLC boosted its stake in shares of ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after purchasing an additional 5,713 shares during the period. Wells Fargo & Company MN boosted its stake in shares of ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after purchasing an additional 3,518 shares during the period. R Squared Ltd acquired a new stake in ON24 in the fourth quarter valued at $153,000. Finally, FMR LLC raised 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 in the last quarter. 83.93% of the stock is owned by institutional investors and hedge funds.

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.