ON24 (NYSE:ONTF) Insider Sells $70,520.40 in Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 12,372 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.70, for a total value of $70,520.40. Following the transaction, the insider owned 718,961 shares in the company, valued at approximately $4,098,077.70. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jayesh Sahasi also recently made the following trade(s):

• On Tuesday, December 2nd, Jayesh Sahasi sold 11,681 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total value of $66,114.46.
• On Thursday, November 20th, Jayesh Sahasi sold 4,099 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total value of $21,724.70.
• On Monday, September 8th, Jayesh Sahasi sold 3,681 shares of ON24 stock. The stock was sold at an average price of $5.58, for a total value of $20,539.98.
• On Friday, September 5th, Jayesh Sahasi sold 4,608 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total transaction of $25,436.16.
• On Thursday, September 4th, Jayesh Sahasi sold 5,612 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total transaction of $30,978.24.

ON24 Stock Up 4.0%

NYSE:ONTF traded up $0.23 on Wednesday, hitting $5.88. The stock had a trading volume of 156,578 shares, compared to its average volume of 156,167. The company has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $5.43. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $7.03. The stock has a market cap of $248.40 million, a price-to-earnings ratio of -7.94 and a beta of 0.66.

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

Institutional Investors Weigh In On ON24

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONTF. Jacobs Levy Equity Management Inc. boosted its stake in shares of ON24 by 4.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock worth $1,749,000 after buying an additional 13,600 shares during the period. Prelude Capital Management LLC lifted its holdings in shares of ON24 by 33.9% in the 3rd quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock valued at $97,000 after buying an additional 4,300 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of ON24 by 22.1% in the third quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock valued at $85,000 after buying an additional 2,700 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in ON24 during the third quarter worth $60,000. Finally, Millennium Management LLC purchased a new position in ON24 in the third quarter worth $175,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTF has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of ON24 from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Canaccord Genuity Group increased their price objective on shares of ON24 from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $6.00.

ON24 Company Profile

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.