ON24 (NYSE:ONTF) CRO James Blackie Sells 10,951 Shares

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 10,951 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $5.66, for a total transaction of $61,982.66. Following the transaction, the executive directly owned 478,861 shares of the company’s stock, valued at $2,710,353.26. The trade was a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

James Blackie also recently made the following trade(s):

• On Monday, December 1st, James Blackie sold 11,599 shares of ON24 stock. The shares were sold at an average price of $5.70, for a total value of $66,114.30.
• On Thursday, November 20th, James Blackie sold 4,659 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total value of $24,692.70.
• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total value of $16,806.96.
• On Friday, September 5th, James Blackie sold 3,770 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total value of $20,810.40.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $25,347.84.

ON24 Trading Up 4.0%

NYSE:ONTF traded up $0.23 on Wednesday, reaching $5.88. 156,578 shares of the stock traded hands, compared to its average volume of 156,167. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $7.03. The company’s 50 day moving average is $5.51 and its 200-day moving average is $5.43. The firm has a market capitalization of $248.40 million, a price-to-earnings ratio of -7.94 and a beta of 0.66.

ON24 (NYSE:ONTF) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $33.87 million. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. On average, equities research analysts forecast that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ONTF shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Robert W. Baird raised their target price on ON24 from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Canaccord Genuity Group boosted their price target on ON24 from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ON24 currently has an average rating of “Reduce” and a consensus price target of $6.00.

Institutional Investors Weigh In On ON24

Hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV bought a new stake in shares of ON24 during the third quarter valued at approximately $60,000. Dynamic Technology Lab Private Ltd bought a new stake in ON24 during the 3rd quarter valued at $61,000. Public Employees Retirement System of Ohio increased its stake in ON24 by 228.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after purchasing an additional 8,515 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in ON24 during the second quarter worth $78,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of ON24 by 43.5% in the third quarter. Russell Investments Group Ltd. now owns 15,918 shares of the company’s stock valued at $91,000 after buying an additional 4,823 shares in the last quarter. Institutional investors and hedge funds 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.