James Blackie Sells 4,376 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 4,376 shares of ON24 stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $27,787.60. Following the sale, the executive now owns 437,161 shares of the company’s stock, valued at $2,775,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ON24 Stock Down 3.9 %

ON24 stock opened at $5.91 on Friday. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35. The firm has a market cap of $247.42 million, a PE ratio of -5.68 and a beta of 0.47. The company’s 50 day moving average is $6.21 and its two-hundred day moving average is $6.42.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ONTF. JPMorgan Chase & Co. cut their target price on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

Hedge Funds Weigh In On ON24

Several hedge funds and other institutional investors have recently made changes to their positions in ONTF. Vanguard Group Inc. increased its stake in shares of ON24 by 2.1% during the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after buying an additional 49,498 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ON24 by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,469,318 shares of the company’s stock valued at $8,830,000 after purchasing an additional 22,577 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ON24 by 12.9% in the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after purchasing an additional 83,000 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of ON24 by 19.2% during the 2nd quarter. Acadian Asset Management LLC now owns 559,602 shares of the company’s stock worth $3,362,000 after purchasing an additional 90,058 shares during the last quarter. Finally, Horrell Capital Management Inc. grew its stake in shares of ON24 by 32.5% during the first quarter. Horrell Capital Management Inc. now owns 387,196 shares of the company’s stock worth $2,765,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

ON24 Company Profile

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.