ON24, Inc. (NYSE:ONTF) CFO Sells $16,428.72 in Stock

ON24, Inc. (NYSE:ONTF) CFO Steven Vattuone sold 2,667 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $6.16, for a total value of $16,428.72. Following the transaction, the chief financial officer now directly owns 556,172 shares in the company, valued at approximately $3,426,019.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steven Vattuone also recently made the following trade(s):

• On Monday, September 9th, Steven Vattuone sold 2,266 shares of ON24 stock. The shares were sold at an average price of $5.91, for a total value of $13,392.06.
• On Tuesday, September 3rd, Steven Vattuone sold 5,216 shares of ON24 stock. The stock was sold at an average price of $6.35, for a total value of $33,121.60.

ON24 Stock Performance

ONTF stock traded down $0.07 during trading on Monday, reaching $5.84. The company had a trading volume of 115,632 shares, compared to its average volume of 191,159. ON24, Inc. has a twelve month low of $5.37 and a twelve month high of $8.35. The company has a market cap of $242.54 million, a price-to-earnings ratio of -5.62 and a beta of 0.47. The firm has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $6.39.

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

Analyst Ratings Changes

ONTF has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONTF. The Manufacturers Life Insurance Company increased its holdings in ON24 by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock worth $81,000 after buying an additional 2,158 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of ON24 by 8.9% in the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after acquiring an additional 2,401 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of ON24 by 8.8% in the second quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after acquiring an additional 5,337 shares during the period. Marshall Wace LLP purchased a new position in shares of ON24 during the second quarter worth $72,000. Finally, Bank of New York Mellon Corp lifted its position in ON24 by 14.5% during the second quarter. Bank of New York Mellon Corp now owns 98,089 shares of the company’s stock valued at $590,000 after purchasing an additional 12,400 shares during the period. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

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.