Sharat Sharan Sells 2,310 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 2,310 shares of ON24 stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $7.93, for a total value of $18,318.30. Following the sale, the insider directly owned 3,625,575 shares in the company, valued at $28,750,809.75. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 shares were sold at an average price of $5.82, for a total value of $111,272.58.
• On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total transaction of $170,718.30.

ON24 Stock Performance

Shares of ON24 stock traded up $0.04 on Tuesday, reaching $7.95. 177,207 shares of the stock were exchanged, compared to its average volume of 410,504. ON24, Inc. has a one year low of $4.35 and a one year high of $8.10. The firm has a market cap of $335.91 million, a PE ratio of -10.74 and a beta of 0.61. The firm’s 50 day moving average is $7.17 and its 200-day moving average is $6.05.

ON24 (NYSE:ONTF) last issued its quarterly earnings data 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 return on equity of 18.61% and a negative net margin of 22.09%.The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.87 million. On average, equities research analysts expect that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On ON24

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in shares of ON24 by 22.1% in the third quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock valued at $85,000 after acquiring an additional 2,700 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in ON24 by 139.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock valued at $39,000 after purchasing an additional 2,825 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of ON24 by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock valued at $113,000 after purchasing an additional 2,989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ON24 by 24.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company’s stock valued at $111,000 after buying an additional 4,004 shares during the period. Finally, Prelude Capital Management LLC increased its holdings in shares of ON24 by 33.9% in the third quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock worth $97,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ONTF. Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research note on Thursday, January 22nd. Robert W. Baird lifted their price target on shares of ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research note on Friday, January 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a research note on Wednesday, December 31st. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $7.40.

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.