Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells 36,189 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 36,189 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $6.20, for a total value of $224,371.80. Following the completion of the transaction, the insider now directly owns 3,113,728 shares in the company, valued at approximately $19,305,113.60. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ON24 Stock Down 0.4 %

Shares of ON24 stock opened at $6.42 on Friday. ON24, Inc. has a twelve month low of $5.37 and a twelve month high of $8.35. The business has a 50-day moving average price of $6.56 and a 200-day moving average price of $6.32. The firm has a market cap of $267.57 million, a price-to-earnings ratio of -6.18 and a beta of 0.50.

Hedge Funds Weigh In On ON24

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in ON24 by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after purchasing an additional 2,158 shares during the last quarter. SG Americas Securities LLC raised its position in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after buying an additional 3,891 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of ON24 by 8.8% in 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 during the last quarter. FMR LLC lifted its holdings in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in ON24 in the second quarter worth about $72,000. 83.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Wednesday.

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.