ON24 (NYSE:ONTF) Insider Sharat Sharan Sells 15,679 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 15,679 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.01, for a total transaction of $125,588.79. Following the completion of the sale, the insider owned 3,735,683 shares in the company, valued at $29,922,820.83. This represents a 0.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Sharat Sharan also recently made the following trade(s):

• On Tuesday, February 10th, Sharat Sharan sold 2,310 shares of ON24 stock. The shares were sold at an average price of $7.93, for a total transaction of $18,318.30.
• On Wednesday, December 31st, Sharat Sharan sold 50,332 shares of ON24 stock. The stock was sold at an average price of $7.97, for a total transaction of $401,146.04.
• On Wednesday, December 17th, Sharat Sharan sold 19,119 shares of ON24 stock. The stock was sold at an average price of $5.82, for a total transaction of $111,272.58.

ON24 Trading Up 0.1%

Shares of NYSE ONTF opened at $8.02 on Tuesday. ON24, Inc. has a 12-month low of $4.35 and a 12-month high of $8.10. The firm’s 50-day moving average price is $7.75 and its 200-day moving average price is $6.35. The stock has a market capitalization of $342.09 million, a price-to-earnings ratio of -11.79 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ONTF shares. Canaccord Genuity Group increased their target price on shares of ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research note on Wednesday, December 31st. Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Robert W. Baird increased their price objective on shares of ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday, January 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.10.

Hedge Funds Weigh In On ON24

A number of hedge funds have recently added to or reduced their stakes in ONTF. AQR Capital Management LLC increased its position in shares of ON24 by 15.9% during the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after acquiring an additional 2,989 shares during the period. Goldman Sachs Group Inc. grew its stake in ON24 by 3.9% in the first quarter. Goldman Sachs Group Inc. now owns 188,836 shares of the company’s stock worth $982,000 after purchasing an additional 7,139 shares in the last quarter. Bank of Montreal Can bought a new position in ON24 in the second quarter worth approximately $123,000. Acadian Asset Management LLC increased its holdings in ON24 by 1.8% during the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock worth $4,590,000 after purchasing an additional 14,851 shares during the period. Finally, Geode Capital Management LLC raised its position in ON24 by 13.7% during the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after purchasing an additional 102,396 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

ON24 Company Profile

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.