ON24 (NYSE:ONTF) CRO Sells $127,360.00 in Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 16,000 shares of ON24 stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $7.96, for a total value of $127,360.00. Following the completion of the transaction, the executive owned 478,861 shares of the company’s stock, valued at $3,811,733.56. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, December 2nd, James Blackie sold 10,951 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total transaction of $61,982.66.
• On Monday, December 1st, James Blackie sold 11,599 shares of ON24 stock. The shares were sold at an average price of $5.70, for a total transaction of $66,114.30.
• On Thursday, November 20th, James Blackie sold 4,659 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total transaction of $24,692.70.

ON24 Trading Up 0.1%

Shares of NYSE:ONTF opened at $7.97 on Monday. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $8.10. The company’s 50 day moving average is $5.80 and its two-hundred day moving average is $5.55. The company has a market cap of $336.76 million, a PE ratio of -10.76 and a beta of 0.61.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business 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 and its Q4 2025 guidance at 0.010-0.020 EPS. As a group, equities research analysts expect that ON24, Inc. will post -0.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in ON24 in the first quarter valued at approximately $357,000. American Century Companies Inc. increased its holdings in shares of ON24 by 32.6% in the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company’s stock valued at $215,000 after acquiring an additional 10,171 shares during the period. Cubist Systematic Strategies LLC raised its position in ON24 by 78.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company’s stock valued at $345,000 after purchasing an additional 29,290 shares during the last quarter. AQR Capital Management LLC boosted its stake in ON24 by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after purchasing an additional 2,989 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in ON24 by 3.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 188,836 shares of the company’s stock worth $982,000 after purchasing an additional 7,139 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

Wall Street Analyst Weigh In

ONTF has been the topic of several research analyst reports. Robert W. Baird raised their target price on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.40.

About ON24

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.