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 company’s stock in a transaction on 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 transaction, the insider now owns 569,976 shares of the company’s stock, valued at $3,083,570.16. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, March 18th, Jayesh Sahasi sold 35,564 shares of ON24 stock. The shares were 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 stock was 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 Down 2.1 %

Shares of NYSE:ONTF opened at $5.39 on Friday. The company has a 50-day moving average price of $6.29 and a 200-day moving average price of $6.34. The company has a market cap of $227.92 million, a price-to-earnings ratio of -5.18 and a beta of 0.55. ON24, Inc. has a 12 month low of $5.36 and a 12 month high of $7.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On ON24

Several hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. raised its holdings in ON24 by 1.6% in the 4th quarter. Federated Hermes Inc. now owns 1,167,713 shares of the company’s stock worth $7,543,000 after purchasing an additional 18,372 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in ON24 by 43.5% in the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after buying an additional 249,045 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ON24 by 15.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock valued at $3,166,000 after acquiring an additional 66,022 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of ON24 by 15.9% in the 4th quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after acquiring an additional 54,000 shares in the last quarter. Finally, Circumference Group LLC lifted its stake in shares of ON24 by 15.9% in the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock valued at $2,547,000 after purchasing an additional 54,000 shares during the period. 83.93% of the stock is owned by hedge funds and other 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.