ON24, Inc. (NYSE:ONTF) Insider Jayesh Sahasi Sells 4,468 Shares

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 4,468 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total transaction of $28,371.80. Following the completion of the sale, the insider now owns 727,913 shares of the company’s stock, valued at approximately $4,622,247.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, July 11th, Jayesh Sahasi sold 17,731 shares of ON24 stock. The stock was sold at an average price of $6.03, for a total transaction of $106,917.93.
• On Wednesday, July 3rd, Jayesh Sahasi sold 1,800 shares of ON24 stock. The stock was sold at an average price of $6.00, for a total transaction of $10,800.00.
• On Monday, July 1st, Jayesh Sahasi sold 3 shares of ON24 stock. The stock was sold at an average price of $6.00, for a total transaction of $18.00.

ON24 Stock Down 0.6 %

Shares of ONTF opened at $6.15 on Friday. The company has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $6.44. The company has a market capitalization of $255.41 million, a PE ratio of -5.91 and a beta of 0.47. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $37.35 million during the quarter, compared to analysts’ expectations of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. On average, research analysts anticipate that ON24, Inc. will post -0.73 EPS for the current year.

Hedge Funds Weigh In On ON24

A number of large investors have recently made changes to their positions in ONTF. The Manufacturers Life Insurance Company increased its holdings in ON24 by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after acquiring an additional 2,158 shares in the last quarter. Squarepoint Ops LLC purchased a new position in ON24 during the 2nd quarter valued at about $427,000. Cubist Systematic Strategies LLC increased its holdings in ON24 by 8.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock valued at $395,000 after acquiring an additional 5,337 shares in the last quarter. Marshall Wace LLP purchased a new position in ON24 during the 2nd quarter valued at about $72,000. Finally, Renaissance Technologies LLC increased its holdings in ON24 by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after acquiring an additional 83,000 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ONTF shares. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

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.