Insider Selling: ON24 (NYSE:ONTF) Insider Sells $18,318.30 in Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 2,310 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $7.93, for a total value of $18,318.30. Following the completion of the transaction, the insider directly owned 3,625,575 shares in the company, valued at approximately $28,750,809.75. This represents a 0.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, December 31st, Sharat Sharan sold 50,332 shares of ON24 stock. The stock was sold at an average price of $7.97, for a total value of $401,146.04.
• 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 transaction 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 transaction of $170,718.30.

ON24 Stock Performance

Shares of ONTF stock opened at $7.94 on Friday. The firm has a market cap of $337.95 million, a price-to-earnings ratio of -10.72 and a beta of 0.61. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $8.10. The firm’s 50-day simple moving average is $7.25 and its two-hundred day simple moving average is $6.08.

ON24 (NYSE:ONTF) last released its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.87 million. Analysts forecast that ON24, Inc. will post -0.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a research note on Thursday, January 22nd. Robert W. Baird increased their target price on shares of ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday, January 2nd. Canaccord Genuity Group boosted their price target on shares of ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research report on Wednesday, December 31st. Finally, Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $7.40.

Institutional Investors Weigh In On ON24

A number of institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC grew its stake in ON24 by 17.0% during the fourth quarter. MetLife Investment Management LLC now owns 17,696 shares of the company’s stock valued at $141,000 after acquiring an additional 2,575 shares in the last quarter. Federated Hermes Inc. boosted its holdings in ON24 by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 1,234,283 shares of the company’s stock valued at $9,825,000 after purchasing an additional 56,695 shares during the period. Deutsche Bank AG purchased a new position in shares of ON24 during the 4th quarter valued at $254,000. Franklin Resources Inc. bought a new position in shares of ON24 in the fourth quarter worth $99,000. Finally, Goldman Sachs Group Inc. raised its position in shares of ON24 by 7.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 148,061 shares of the company’s stock worth $1,179,000 after buying an additional 9,813 shares in the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

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.