Insider Selling: ON24 (NYSE:ONTF) Insider Sells 21,617 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 21,617 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $8.01, for a total transaction of $173,152.17. Following the transaction, the insider owned 680,794 shares of the company’s stock, valued at $5,453,159.94. The trade was a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, February 10th, Jayesh Sahasi sold 250 shares of ON24 stock. The shares were sold at an average price of $7.93, for a total transaction of $1,982.50.
• On Tuesday, December 30th, Jayesh Sahasi sold 34,753 shares of ON24 stock. The stock was sold at an average price of $7.98, for a total transaction of $277,328.94.
• On Tuesday, December 2nd, Jayesh Sahasi sold 11,681 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total transaction of $66,114.46.

ON24 Stock Up 0.1%

Shares of NYSE:ONTF traded up $0.01 during midday trading on Monday, reaching $8.02. The company had a trading volume of 687,861 shares, compared to its average volume of 473,909. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $8.10. The stock has a market cap of $342.05 million, a PE ratio of -11.79 and a beta of 0.60. The business’s 50 day moving average price is $7.75 and its 200 day moving average price is $6.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Robert W. Baird increased their price target on shares of ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a research note on Friday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. 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. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ON24 currently has an average rating of “Reduce” and an average target price of $8.10.

Hedge Funds Weigh In On ON24

Several large investors have recently modified their holdings of ONTF. P.A.W. Capital Corp boosted its stake in shares of ON24 by 87.5% in the second quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock valued at $1,629,000 after buying an additional 140,000 shares during the period. Acadian Asset Management LLC raised its holdings in ON24 by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock valued at $4,590,000 after acquiring an additional 14,851 shares in the last quarter. Bank of Montreal Can acquired a new position in ON24 in the 2nd quarter valued at $123,000. PNC Financial Services Group Inc. lifted its position in shares of ON24 by 132.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,614 shares of the company’s stock valued at $61,000 after acquiring an additional 4,334 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of ON24 during the 3rd quarter worth $60,000. 83.93% of the stock is owned by institutional investors.

About ON24

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.