Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells 3,696 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 3,696 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $5.41, for a total transaction of $19,995.36. Following the completion of the sale, the insider now directly owns 569,976 shares in the company, valued at $3,083,570.16. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, March 18th, Jayesh Sahasi sold 35,564 shares of ON24 stock. The stock was sold at an average price of $5.48, for a total value of $194,890.72.
• On Thursday, February 20th, Jayesh Sahasi sold 3,315 shares of ON24 stock. The shares were sold at an average price of $6.38, for a total value of $21,149.70.
• On Monday, February 10th, Jayesh Sahasi sold 1,637 shares of ON24 stock. The stock was sold at an average price of $6.85, for a total value of $11,213.45.

ON24 Trading Up 2.2 %

ONTF opened at $5.50 on Friday. The company has a market capitalization of $232.66 million, a price-to-earnings ratio of -5.29 and a beta of 0.55. ON24, Inc. has a 12-month low of $5.22 and a 12-month high of $7.38. The business’s fifty day simple moving average is $6.27 and its 200-day simple moving average is $6.33.

Analyst Ratings Changes

A number of research analysts have recently commented on ONTF shares. Needham & Company LLC restated a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONTF. SG Americas Securities LLC lifted its position in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after purchasing an additional 3,891 shares during the period. Squarepoint Ops LLC raised its stake in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in ON24 by 25.6% during the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after buying an additional 3,518 shares during the period. R Squared Ltd bought a new stake in ON24 during the 4th quarter valued at $153,000. Finally, FMR LLC increased its holdings in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares during the period. 83.93% of the stock is currently owned by institutional investors.

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.