James Blackie Sells 20,277 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 20,277 shares of ON24 stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $8.01, for a total value of $162,418.77. Following the sale, the executive directly owned 484,052 shares of the company’s stock, valued at approximately $3,877,256.52. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

James Blackie also recently made the following trade(s):

• On Tuesday, February 10th, James Blackie sold 240 shares of ON24 stock. The stock was sold at an average price of $7.93, for a total value of $1,903.20.
• On Tuesday, December 30th, James Blackie sold 16,000 shares of ON24 stock. The stock was sold at an average price of $7.96, for a total value of $127,360.00.
• On Tuesday, December 2nd, James Blackie sold 10,951 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total transaction of $61,982.66.

ON24 Trading Up 0.4%

Shares of NYSE ONTF opened at $8.04 on Wednesday. The stock has a market cap of $342.91 million, a price-to-earnings ratio of -11.82 and a beta of 0.60. ON24, Inc. has a 12 month low of $4.35 and a 12 month high of $8.10. The company has a 50 day simple moving average of $7.80 and a two-hundred day simple moving average of $6.37.

Institutional Investors Weigh In On ON24

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTF. P.A.W. Capital Corp lifted its holdings in ON24 by 87.5% during the second quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock valued at $1,629,000 after purchasing an additional 140,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of ON24 by 19.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after purchasing an additional 116,400 shares during the last quarter. Geode Capital Management LLC lifted its stake in ON24 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after buying an additional 102,396 shares in the last quarter. Glazer Capital LLC acquired a new stake in ON24 in the 4th quarter worth about $760,000. Finally, Two Sigma Investments LP increased its stake in ON24 by 75.8% during the 3rd quarter. Two Sigma Investments LP now owns 206,340 shares of the company’s stock worth $1,180,000 after buying an additional 88,936 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

Key Stories Impacting ON24

Here are the key news stories impacting ON24 this week:

• Positive Sentiment: Institutional buying and growing ownership — several funds (Nisa Investment Advisors, PNC and others) added or established positions in Q4 and institutional ownership is high (~83.9%), which can support the stock at current levels. Read More.
• Neutral Sentiment: Analyst coverage is mixed but target prices were nudged higher by some brokers (Canaccord Genuity and Robert W. Baird raised targets to $8.10), while the consensus rating remains cautious — the average view is a “Reduce.” This creates a neutral/ambiguous catalyst near the current price band. Read More.
• Neutral Sentiment: Technical setup is modestly constructive: the 50-day MA (~$7.75) is above the 200-day (~$6.35) and the stock is trading close to its 52-week high, which can attract momentum buyers but leaves limited upside vs. near-term resistance. Read More.
• Negative Sentiment: Multiple insider sales by senior executives — CRO James Blackie, CFO Steven Vattuone, Sharat Sharan and Jayesh Sahasi sold shares on March 2 (individual sales in the ~$125k–$183k range; combined sales materially reduced their holdings by a few percent). While not large enough to indicate loss of control, clustered executive selling often raises short-term investor concern about near-term upside. Read More.

ON24 Company Profile

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.