ON24 (NYSE:ONTF) CRO Sells $16,806.96 in Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 3,012 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $5.58, for a total value of $16,806.96. Following the completion of the transaction, the executive owned 506,070 shares in the company, valued at $2,823,870.60. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, September 5th, James Blackie sold 3,770 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total transaction of $20,810.40.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $25,347.84.
• On Wednesday, September 3rd, James Blackie sold 2,549 shares of ON24 stock. The stock was sold at an average price of $5.43, for a total value of $13,841.07.
• On Tuesday, September 2nd, James Blackie sold 2,314 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total transaction of $12,958.40.
• On Wednesday, August 20th, James Blackie sold 3,283 shares of ON24 stock. The stock was sold at an average price of $5.21, for a total value of $17,104.43.

ON24 Stock Performance

Shares of ONTF stock opened at $5.53 on Wednesday. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $7.03. The company has a market cap of $233.85 million, a P/E ratio of -6.43 and a beta of 0.66. The stock has a 50 day simple moving average of $5.27 and a two-hundred day simple moving average of $5.26.

Institutional Investors Weigh In On ON24

Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in shares of ON24 by 25.6% during the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after purchasing an additional 3,518 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ON24 by 30.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,632 shares of the company’s stock valued at $308,000 after buying an additional 11,234 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in ON24 during the 4th quarter worth about $777,000. Bank of America Corp DE lifted its holdings in ON24 by 18.6% during the 4th quarter. Bank of America Corp DE now owns 47,999 shares of the company’s stock worth $310,000 after buying an additional 7,531 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in ON24 by 84.8% in the fourth quarter. Millennium Management LLC now owns 142,387 shares of the company’s stock valued at $920,000 after acquiring an additional 65,322 shares in the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of ON24 from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.33.

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.