Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells $655,492.64 in Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 32,386 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $20.24, for a total value of $655,492.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

  • On Thursday, October 21st, Jayesh Sahasi sold 70,000 shares of ON24 stock. The shares were sold at an average price of $20.54, for a total value of $1,437,800.00.
  • On Monday, September 20th, Jayesh Sahasi sold 70,000 shares of ON24 stock. The stock was sold at an average price of $20.21, for a total value of $1,414,700.00.
  • On Thursday, August 26th, Jayesh Sahasi sold 75,000 shares of ON24 stock. The stock was sold at an average price of $23.34, for a total value of $1,750,500.00.

NYSE ONTF opened at $19.29 on Thursday. ON24, Inc. has a 1 year low of $18.70 and a 1 year high of $81.98. The company has a market capitalization of $899.90 million and a PE ratio of 15.07. The company has a fifty day moving average of $20.68 and a two-hundred day moving average of $31.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.86.

ON24 (NYSE:ONTF) last announced its earnings results on Tuesday, August 10th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.18. The business had revenue of $52.10 million for the quarter, compared to analyst estimates of $51.06 million. During the same quarter last year, the company posted $0.69 EPS. ON24’s quarterly revenue was up 43.4% on a year-over-year basis. On average, research analysts expect that ON24, Inc. will post -0.62 earnings per share for the current year.

ONTF has been the topic of a number of recent research reports. Zacks Investment Research raised ON24 from a “sell” rating to a “hold” rating in a research report on Wednesday, July 14th. Canaccord Genuity lowered ON24 from a “buy” rating to a “hold” rating and dropped their target price for the company from $45.00 to $30.00 in a report on Wednesday, August 11th. JPMorgan Chase & Co. lowered ON24 from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $32.00 in a report on Wednesday, August 11th. Robert W. Baird dropped their target price on ON24 from $70.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 11th. Finally, Needham & Company LLC dropped their target price on ON24 from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.29.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio boosted its stake in shares of ON24 by 542.9% during the third quarter. Strs Ohio now owns 18,000 shares of the company’s stock worth $358,000 after buying an additional 15,200 shares during the period. YorkBridge Wealth Partners LLC acquired a new stake in shares of ON24 during the third quarter worth about $668,000. Hamilton Lane Advisors LLC acquired a new stake in shares of ON24 during the third quarter worth about $3,900,000. FDx Advisors Inc. acquired a new stake in ON24 in the third quarter valued at about $668,000. Finally, Morgan Stanley lifted its position in ON24 by 265,285.7% in the second quarter. Morgan Stanley now owns 37,154 shares of the company’s stock valued at $1,319,000 after purchasing an additional 37,140 shares during the period. Institutional investors and hedge funds own 40.02% of the company’s stock.

ON24 Company Profile

ON24, Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Experience products, such as ON24 Elite, a live and interactive webinar experience; ON24 Virtual Environment, a live and large scale virtual event experience; ON24 Engagement Hub, a rich multimedia content experience; and ON24 Target, a personalized and curated rich multimedia content experience, as well as solutions, including ON24 Intelligence, an analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; and ON24 Connect, an ecosystem of third-party application integrations.

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Insider Buying and Selling by Quarter for ON24 (NYSE:ONTF)

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