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 that occurred on Tuesday, March 18th. The stock was sold at an average price of $5.48, for a total value of $194,890.72. Following the completion of the transaction, the insider now owns 644,989 shares of the company’s stock, valued at approximately $3,534,539.72. This represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $5.41, for a total value of $19,995.36.
• 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 shares were sold at an average price of $6.85, for a total value of $11,213.45.

ON24 Price Performance

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

Hedge Funds Weigh In On ON24

Several large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in ON24 by 45.0% in the third quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after buying an additional 8,528 shares during the period. Jane Street Group LLC increased its position in ON24 by 91.2% in the third quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after buying an additional 29,148 shares during the period. Barclays PLC increased its position in ON24 by 48.7% in the third quarter. Barclays PLC now owns 101,837 shares of the company’s stock worth $624,000 after buying an additional 33,352 shares during the period. SG Americas Securities LLC increased its position in ON24 by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after buying an additional 3,891 shares during the period. Finally, R Squared Ltd acquired a new stake in ON24 in the fourth quarter worth $153,000. 83.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ONTF has been the subject of several research analyst reports. William Blair reiterated a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note 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.