Jayesh Sahasi Sells 34,753 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 34,753 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $7.98, for a total transaction of $277,328.94. Following the transaction, the insider directly owned 672,527 shares of the company’s stock, valued at approximately $5,366,765.46. This represents a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, December 2nd, Jayesh Sahasi sold 11,681 shares of ON24 stock. The shares were sold at an average price of $5.66, for a total value of $66,114.46.
• On Monday, December 1st, Jayesh Sahasi sold 12,372 shares of ON24 stock. The stock was sold at an average price of $5.70, for a total value of $70,520.40.
• On Thursday, November 20th, Jayesh Sahasi sold 4,099 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total value of $21,724.70.

ON24 Trading Up 0.1%

ONTF traded up $0.01 during midday trading on Friday, reaching $7.97. The company’s stock had a trading volume of 645,247 shares, compared to its average volume of 309,137. The company has a fifty day simple moving average of $5.76 and a 200 day simple moving average of $5.53. The stock has a market cap of $336.76 million, a P/E ratio of -10.76 and a beta of 0.60. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $8.10.

ON24 (NYSE:ONTF) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.03 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 analyst estimates 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. Sell-side analysts expect that ON24, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ONTF. Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Canaccord Genuity Group boosted their price target on ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $7.40.

Institutional Trading of ON24

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its position in ON24 by 0.5% in the third quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company’s stock worth $6,736,000 after purchasing an additional 5,347 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ON24 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after purchasing an additional 102,396 shares during the period. Acadian Asset Management LLC grew its stake in shares of 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 purchasing an additional 14,851 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of ON24 by 19.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after buying an additional 116,400 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of ON24 by 4.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock worth $1,749,000 after buying an additional 13,600 shares during the period. Institutional investors own 83.93% of the company’s stock.

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.