Insider Selling: ON24, Inc. (NYSE:ONTF) CFO Sells 3,129 Shares of Stock

ON24, Inc. (NYSE:ONTF) CFO Steven Vattuone sold 3,129 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $5.78, for a total transaction of $18,085.62. Following the completion of the sale, the chief financial officer now owns 596,597 shares of the company’s stock, valued at $3,448,330.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Steven Vattuone also recently made the following trade(s):

• On Wednesday, June 5th, Steven Vattuone sold 4,242 shares of ON24 stock. The shares were sold at an average price of $5.81, for a total transaction of $24,646.02.
• On Wednesday, March 13th, Steven Vattuone sold 9,314 shares of ON24 stock. The shares were sold at an average price of $6.62, for a total value of $61,658.68.
• On Monday, March 11th, Steven Vattuone sold 5,115 shares of ON24 stock. The stock was sold at an average price of $6.68, for a total transaction of $34,168.20.

ON24 Price Performance

Shares of ON24 stock traded up $0.11 during trading on Wednesday, hitting $5.86. 249,759 shares of the company’s stock traded hands, compared to its average volume of 215,453. ON24, Inc. has a 1 year low of $5.68 and a 1 year high of $9.09. The business has a 50-day simple moving average of $6.59 and a 200-day simple moving average of $7.11. The stock has a market capitalization of $245.36 million, a P/E ratio of -5.63 and a beta of 0.46.

ON24 (NYSE:ONTF) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The firm had revenue of $37.73 million for the quarter, compared to the consensus estimate of $37.00 million. ON24 had a negative net margin of 28.35% and a negative return on equity of 19.97%. On average, equities analysts predict that ON24, Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Friday, May 17th. Canaccord Genuity Group reduced their price target on shares of ON24 from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 23rd.

Hedge Funds Weigh In On ON24

A number of institutional investors and hedge funds have recently made changes to their positions in ONTF. Barclays PLC boosted its stake in shares of ON24 by 59.5% during the 3rd quarter. Barclays PLC now owns 53,332 shares of the company’s stock worth $338,000 after acquiring an additional 19,905 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in ON24 by 2.0% during the third quarter. Brandywine Global Investment Management LLC now owns 260,700 shares of the company’s stock valued at $1,650,000 after purchasing an additional 5,100 shares during the period. Corton Capital Inc. increased its position in ON24 by 65.0% in the third quarter. Corton Capital Inc. now owns 33,401 shares of the company’s stock worth $211,000 after buying an additional 13,159 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of ON24 in the third quarter worth about $286,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of ON24 during the 4th quarter valued at about $375,000. Hedge funds and other 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.