Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells 35,564 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 35,564 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $5.48, for a total transaction of $194,890.72. Following the completion of the sale, the insider now directly owns 644,989 shares in the company, valued at $3,534,539.72. This represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 20th, Jayesh Sahasi sold 3,696 shares of ON24 stock. The stock was sold at an average price of $5.41, for a total transaction of $19,995.36.
• On Thursday, February 20th, Jayesh Sahasi sold 3,315 shares of ON24 stock. The stock was sold at an average price of $6.38, for a total transaction 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 transaction of $11,213.45.

ON24 Price Performance

Shares of ONTF stock traded down $0.12 during trading hours on Thursday, reaching $5.39. The stock had a trading volume of 94,678 shares, compared to its average volume of 138,878. The firm has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $6.35. The firm has a market capitalization of $224.29 million, a PE ratio of -5.18 and a beta of 0.55. ON24, Inc. has a twelve month low of $5.36 and a twelve month high of $7.38.

Hedge Funds Weigh In On ON24

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after buying an additional 3,891 shares in the last quarter. Squarepoint Ops LLC grew its position in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN grew its position in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after buying an additional 3,518 shares in the last quarter. R Squared Ltd bought a new position in ON24 in the 4th quarter valued at about $153,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in ON24 in the 4th quarter valued at about $175,000. Institutional investors own 83.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About ON24

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.