Sharat Sharan Sells 37,965 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 37,965 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total transaction of $236,142.30. Following the completion of the transaction, the insider now directly owns 3,087,478 shares of the company’s stock, valued at $19,204,113.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ON24 Price Performance

ONTF opened at $6.26 on Friday. The business’s fifty day simple moving average is $6.23 and its 200 day simple moving average is $6.34. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $8.35.

ON24 (NYSE:ONTF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The firm had revenue of $37.35 million for 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, analysts expect that ON24, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

ONTF has been the subject of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Institutional Investors Weigh In On ON24

A number of hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC raised its position in ON24 by 8.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after purchasing an additional 5,337 shares during the period. The Manufacturers Life Insurance Company grew its stake 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 valued at $81,000 after buying an additional 2,158 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of ON24 in the second quarter worth about $427,000. Marshall Wace LLP bought a new stake in shares of ON24 in the 2nd quarter valued at about $72,000. Finally, Renaissance Technologies LLC boosted its holdings in ON24 by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 726,434 shares of the company’s stock valued at $4,366,000 after acquiring an additional 83,000 shares during the period. 83.93% of the stock is currently owned by institutional investors.

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.