ON24 (NYSE:ONTF) Insider Sharat Sharan Sells 50,332 Shares

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 50,332 shares of ON24 stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $7.97, for a total transaction of $401,146.04. Following the sale, the insider directly owned 3,622,559 shares of the company’s stock, valued at approximately $28,871,795.23. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, December 17th, Sharat Sharan sold 19,119 shares of ON24 stock. The stock was sold at an average price of $5.82, for a total transaction of $111,272.58.
• On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total transaction of $170,718.30.
• On Thursday, October 16th, Sharat Sharan sold 32,093 shares of ON24 stock. The shares were sold at an average price of $5.45, for a total transaction of $174,906.85.

ON24 Price Performance

Shares of ONTF opened at $7.99 on Tuesday. 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 $337.61 million, a PE ratio of -10.79 and a beta of 0.61. The firm has a fifty day moving average price of $5.85 and a 200 day moving average price of $5.57.

ON24 (NYSE:ONTF) last posted its 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. The business had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $33.87 million. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.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, equities analysts expect that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ONTF shares. Robert W. Baird increased 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Canaccord Genuity Group raised their price target on ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Finally, Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. 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.com, the company currently has a consensus rating of “Reduce” and an average target price of $7.40.

Hedge Funds Weigh In On ON24

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in shares of ON24 by 32.6% in the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company’s stock valued at $215,000 after buying an additional 10,171 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of ON24 by 78.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company’s stock worth $345,000 after purchasing an additional 29,290 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of ON24 by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after purchasing an additional 2,989 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of ON24 by 3.9% in the first quarter. Goldman Sachs Group Inc. now owns 188,836 shares of the company’s stock valued at $982,000 after purchasing an additional 7,139 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of ON24 by 18.0% in the first quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock valued at $4,319,000 after purchasing an additional 127,010 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.