Jayesh Sahasi Sells 2,285 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 2,285 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $6.16, for a total transaction of $14,075.60. Following the transaction, the insider now directly owns 721,577 shares in the company, valued at approximately $4,444,914.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jayesh Sahasi also recently made the following trade(s):

• On Monday, September 9th, Jayesh Sahasi sold 1,941 shares of ON24 stock. The stock was sold at an average price of $5.91, for a total value of $11,471.31.
• On Tuesday, September 3rd, Jayesh Sahasi sold 4,468 shares of ON24 stock. The shares were sold at an average price of $6.35, for a total transaction of $28,371.80.
• On Thursday, July 11th, Jayesh Sahasi sold 17,731 shares of ON24 stock. The stock was sold at an average price of $6.03, for a total transaction of $106,917.93.
• On Wednesday, July 3rd, Jayesh Sahasi sold 1,800 shares of ON24 stock. The shares were sold at an average price of $6.00, for a total transaction of $10,800.00.
• On Monday, July 1st, Jayesh Sahasi sold 3 shares of ON24 stock. The stock was sold at an average price of $6.00, for a total transaction of $18.00.

ON24 Stock Down 1.2 %

NYSE ONTF traded down $0.07 during trading hours on Monday, hitting $5.84. 115,632 shares of the company were exchanged, compared to its average volume of 191,159. The stock has a market cap of $242.54 million, a PE ratio of -5.62 and a beta of 0.47. The stock has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.39. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $8.35.

ON24 (NYSE:ONTF) last released its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The business had revenue of $37.35 million for the quarter, compared to the consensus estimate of $36.31 million. ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. As a group, sell-side analysts anticipate that ON24, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ONTF shares. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ONTF. Los Angeles Capital Management LLC purchased a new position in ON24 during the 4th quarter worth $375,000. Trexquant Investment LP acquired a new position in shares of ON24 in the fourth quarter valued at about $577,000. Quest Partners LLC purchased a new position in ON24 during the 4th quarter worth approximately $440,000. Circumference Group LLC acquired a new position in ON24 during the fourth quarter valued at $2,303,000. Finally, Horrell Capital Management Inc. lifted its holdings in shares of ON24 by 32.5% in the 1st quarter. Horrell Capital Management Inc. now owns 387,196 shares of the company’s stock valued at $2,765,000 after buying an additional 95,000 shares during the period. 83.93% of the stock is owned by institutional investors.

ON24 Company Profile

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.