Jayesh Sahasi Sells 21,617 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 21,617 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $8.01, for a total transaction of $173,152.17. Following the completion of the transaction, the insider directly owned 680,794 shares of the company’s stock, valued at approximately $5,453,159.94. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, February 10th, Jayesh Sahasi sold 250 shares of ON24 stock. The shares were sold at an average price of $7.93, for a total transaction of $1,982.50.
• On Tuesday, December 30th, Jayesh Sahasi sold 34,753 shares of ON24 stock. The shares were sold at an average price of $7.98, for a total transaction of $277,328.94.
• 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 transaction of $66,114.46.

ON24 Stock Up 0.1%

NYSE:ONTF traded up $0.01 during trading hours on Monday, hitting $8.02. 687,861 shares of the stock were exchanged, compared to its average volume of 473,909. The company has a market capitalization of $342.05 million, a P/E ratio of -11.79 and a beta of 0.60. The company’s 50 day moving average is $7.75 and its two-hundred day moving average is $6.35. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $8.10.

Analysts Set New Price Targets

A number of analysts have commented on ONTF shares. Canaccord Genuity Group lifted their target price on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Wall Street Zen upgraded ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research note on Thursday, January 22nd. Finally, Robert W. Baird increased their target price on ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a research note on Friday, January 2nd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $8.10.

Institutional Trading of ON24

A number of large investors have recently made changes to their positions in ONTF. P.A.W. Capital Corp grew its holdings in shares of ON24 by 87.5% during the second quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock worth $1,629,000 after buying an additional 140,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in ON24 by 19.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock valued at $4,063,000 after acquiring an additional 116,400 shares in the last quarter. Geode Capital Management LLC boosted its position in ON24 by 13.7% during the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock worth $4,629,000 after acquiring an additional 102,396 shares during the last quarter. Glazer Capital LLC acquired a new position in ON24 during the 4th quarter worth approximately $760,000. Finally, Two Sigma Investments LP grew its stake in shares of 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 acquiring an additional 88,936 shares in the last quarter. Institutional investors own 83.93% of the company’s stock.

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.