Insider Selling: ON24, Inc. (NYSE:ONTF) CFO Sells 5,216 Shares of Stock

ON24, Inc. (NYSE:ONTF) CFO Steven Vattuone sold 5,216 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $33,121.60. Following the transaction, the chief financial officer now directly owns 563,567 shares in the company, valued at $3,578,650.45. The sale was disclosed in a filing with the SEC, which is available through this link.

ON24 Trading Down 3.9 %

Shares of NYSE ONTF opened at $5.91 on Friday. The company has a 50 day simple moving average of $6.21 and a two-hundred day simple moving average of $6.42. The stock has a market cap of $247.42 million, a price-to-earnings ratio of -5.68 and a beta of 0.47. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $8.35.

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

Analysts Set New Price Targets

ONTF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

Hedge Funds Weigh In On ON24

Several institutional investors and hedge funds have recently modified their holdings of ONTF. Vanguard Group Inc. lifted its stake in shares of ON24 by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock valued at $17,447,000 after purchasing an additional 49,498 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of ON24 by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock worth $8,830,000 after acquiring an additional 22,577 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of ON24 by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after acquiring an additional 83,000 shares during the period. Acadian Asset Management LLC increased its stake in shares of ON24 by 19.2% in the 2nd quarter. Acadian Asset Management LLC now owns 559,602 shares of the company’s stock valued at $3,362,000 after purchasing an additional 90,058 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its stake in shares of ON24 by 32.5% in the 1st quarter. Horrell Capital Management Inc. now owns 387,196 shares of the company’s stock valued at $2,765,000 after purchasing an additional 95,000 shares in the last quarter. Institutional investors and hedge funds 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.