ON24, Inc. (NYSE:ONTF) CRO James Blackie Sells 15,000 Shares

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $6.33, for a total value of $94,950.00. Following the transaction, the executive now directly owns 457,443 shares in the company, valued at $2,895,614.19. The sale was disclosed in a document filed with the SEC, which is available at this link.

James Blackie also recently made the following trade(s):

• On Monday, May 20th, James Blackie sold 3,276 shares of ON24 stock. The shares were sold at an average price of $6.35, for a total value of $20,802.60.

ON24 Stock Down 1.3 %

Shares of ON24 stock opened at $6.27 on Thursday. The business’s 50 day simple moving average is $6.76 and its two-hundred day simple moving average is $7.16. ON24, Inc. has a one year low of $5.73 and a one year high of $9.09.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.25). The company had revenue of $39.34 million during the quarter, compared to analysts’ expectations of $37.29 million. ON24 had a negative return on equity of 19.97% and a negative net margin of 28.35%. During the same period last year, the firm earned ($0.23) earnings per share. On average, research analysts predict that ON24, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On ON24

Large investors have recently made changes to their positions in the business. Gladius Capital Management LP bought a new stake in shares of ON24 in the 4th quarter worth approximately $71,000. Allspring Global Investments Holdings LLC grew its position in shares of ON24 by 62.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,673 shares of the company’s stock worth $87,000 after buying an additional 5,258 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of ON24 by 124.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,528 shares of the company’s stock worth $122,000 after buying an additional 8,600 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of ON24 by 8.9% during the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Corton Capital Inc. boosted its position in shares of ON24 by 65.0% during the third quarter. Corton Capital Inc. now owns 33,401 shares of the company’s stock valued at $211,000 after purchasing an additional 13,159 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Friday, May 17th. Canaccord Genuity Group decreased their price target on ON24 from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd.

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.