ON24, Inc. (NYSE:ONTF) CRO James Blackie Sells 4,376 Shares of Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 4,376 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $27,787.60. Following the completion of the sale, the executive now directly owns 437,161 shares of the company’s stock, valued at approximately $2,775,972.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

ON24 Trading Down 0.6 %

ONTF opened at $6.15 on Friday. The stock’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $6.44. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $8.35. The stock has a market cap of $255.41 million, a PE ratio of -5.91 and a beta of 0.47.

ON24 (NYSE:ONTF) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The company had revenue of $37.35 million during the quarter, compared to the consensus estimate of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. Equities analysts forecast that ON24, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on ONTF shares. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On ON24

A number of institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its stake in shares of ON24 by 413.1% in the first quarter. Los Angeles Capital Management LLC now owns 244,032 shares of the company’s stock valued at $1,742,000 after acquiring an additional 196,472 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in ON24 by 856.5% in the 1st quarter. Acadian Asset Management LLC now owns 469,544 shares of the company’s stock valued at $3,351,000 after purchasing an additional 420,455 shares during the period. Circumference Group LLC bought a new position in shares of ON24 during the fourth quarter worth approximately $2,303,000. Quest Partners LLC bought a new position in shares of ON24 during the fourth quarter worth approximately $440,000. Finally, Vanguard Group Inc. boosted its stake in shares of ON24 by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock valued at $17,447,000 after buying an additional 49,498 shares during the period. Institutional investors own 83.93% of the company’s stock.

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.