Insider Selling: ON24, Inc. (NYSE:ONTF) Insider Sells 4,089 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 4,089 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $6.29, for a total value of $25,719.81. Following the sale, the insider now owns 713,460 shares in the company, valued at approximately $4,487,663.40. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 9th, Jayesh Sahasi sold 1,941 shares of ON24 stock. The stock was sold at an average price of $5.91, for a total value of $11,471.31.
• On Thursday, September 5th, Jayesh Sahasi sold 2,285 shares of ON24 stock. The stock was sold at an average price of $6.16, for a total value of $14,075.60.
• On Tuesday, September 3rd, Jayesh Sahasi sold 4,468 shares of ON24 stock. The stock was sold at an average price of $6.35, for a total value of $28,371.80.

ON24 Price Performance

Shares of NYSE:ONTF opened at $6.43 on Friday. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35. The stock has a market cap of $267.81 million, a P/E ratio of -6.18 and a beta of 0.46. The business’s 50 day moving average is $6.25 and its 200 day moving average is $6.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Institutional Trading of ON24

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in ON24 during the 3rd quarter valued at $62,000. Marshall Wace LLP bought a new stake in ON24 during the 2nd quarter valued at $72,000. The Manufacturers Life Insurance Company boosted its position 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. Gladius Capital Management LP boosted its position in ON24 by 151.2% during the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after acquiring an additional 13,755 shares in the last quarter. Finally, FMR LLC boosted its position in ON24 by 45.0% during 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 in the last quarter. Institutional investors own 83.93% of the company’s stock.

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.