Insider Selling: ON24, Inc. (NYSE:ONTF) CRO Sells 2,291 Shares of Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 2,291 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $6.51, for a total value of $14,914.41. Following the sale, the executive now owns 425,836 shares in the company, valued at $2,772,192.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, October 29th, James Blackie sold 587 shares of ON24 stock. The stock was sold at an average price of $6.50, for a total value of $3,815.50.
• On Monday, September 9th, James Blackie sold 1,901 shares of ON24 stock. The shares were sold at an average price of $5.91, for a total transaction of $11,234.91.
• On Thursday, September 5th, James Blackie sold 2,238 shares of ON24 stock. The shares were sold at an average price of $6.16, for a total value of $13,786.08.
• On Tuesday, September 3rd, James Blackie sold 4,376 shares of ON24 stock. The stock was sold at an average price of $6.35, for a total value of $27,787.60.

ON24 Trading Up 1.1 %

ONTF traded up $0.07 on Friday, hitting $6.58. 132,742 shares of the stock traded hands, compared to its average volume of 89,657. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $8.35. The business has a fifty day moving average price of $6.17 and a two-hundred day moving average price of $6.18.

ON24 (NYSE:ONTF) last posted its earnings results 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). The business had revenue of $37.35 million during the quarter, compared to the consensus estimate of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. As a group, research analysts predict that ON24, Inc. will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of ON24 during the third quarter worth $62,000. Marshall Wace LLP bought a new position in shares of ON24 in the second quarter worth about $72,000. The Manufacturers Life Insurance Company lifted its position in shares of ON24 by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock worth $81,000 after purchasing an additional 2,158 shares in the last quarter. Gladius Capital Management LP grew its stake in shares of ON24 by 151.2% during the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after purchasing an additional 13,755 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in ON24 by 8.9% in the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after purchasing an additional 2,401 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Friday. 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 research report on Wednesday, August 7th.

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.