ON24 (NYSE:ONTF) Insider Sells $401,146.04 in Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 50,332 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $7.97, for a total transaction of $401,146.04. Following the sale, the insider directly owned 3,622,559 shares in the company, valued at approximately $28,871,795.23. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 17th, Sharat Sharan sold 19,119 shares of ON24 stock. The stock was sold at an average price of $5.82, for a total value of $111,272.58.
• On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total value of $170,718.30.
• On Thursday, October 16th, Sharat Sharan sold 32,093 shares of ON24 stock. The shares were sold at an average price of $5.45, for a total value of $174,906.85.

ON24 Stock Up 0.3%

Shares of ONTF stock traded up $0.03 during trading hours on Monday, hitting $7.99. 541,614 shares of the company’s stock were exchanged, compared to its average volume of 593,440. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $8.10. The firm has a market cap of $337.61 million, a P/E ratio of -10.79 and a beta of 0.61. The firm has a 50 day moving average of $5.80 and a two-hundred day moving average of $5.55.

ON24 (NYSE:ONTF) last released its quarterly earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $34.60 million for 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. On average, equities analysts forecast that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of ON24

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in ON24 by 32.6% during the first quarter. American Century Companies Inc. now owns 41,333 shares of the company’s stock worth $215,000 after acquiring an additional 10,171 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of ON24 by 78.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company’s stock worth $345,000 after acquiring an additional 29,290 shares during the last quarter. AQR Capital Management LLC boosted its stake in ON24 by 15.9% in 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. Goldman Sachs Group Inc. lifted its position in shares of ON24 by 3.9% in the first 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 in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of ON24 by 18.0% during the 1st quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock valued at $4,319,000 after acquiring an additional 127,010 shares in the last quarter. Institutional investors own 83.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research note on Wednesday, October 8th. Robert W. Baird increased their price target on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group upped their price target on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a research note on Wednesday, December 31st. Finally, Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from 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.