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

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

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 transaction 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 transaction of $70,520.40.
• On Thursday, November 20th, Jayesh Sahasi sold 4,099 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total transaction of $21,724.70.

ON24 Price Performance

NYSE:ONTF opened at $7.97 on Friday. The firm has a market cap of $336.76 million, a PE ratio of -10.76 and a beta of 0.61. The firm has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $5.55. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $8.10.

ON24 (NYSE:ONTF) last released its earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON24

Several large investors have recently made changes to their positions in ONTF. Mercer Global Advisors Inc. ADV acquired a new position in shares of ON24 during the 3rd quarter valued at $60,000. Dynamic Technology Lab Private Ltd purchased a new position in ON24 in the third quarter valued at about $61,000. Public Employees Retirement System of Ohio raised its position in ON24 by 228.5% in the second 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 during the period. Brevan Howard Capital Management LP acquired a new position in shares of ON24 during the second quarter worth about $78,000. Finally, Russell Investments Group Ltd. boosted its position 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 worth $91,000 after buying an additional 4,823 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ONTF shares. Robert W. Baird raised their price target on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research note on Friday. Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ON24 has a consensus 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.