ON24 (NYSE:ONTF) CRO James Blackie Sells 10,951 Shares

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 10,951 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $5.66, for a total transaction of $61,982.66. Following the completion of the transaction, the executive directly owned 478,861 shares of the company’s stock, valued at approximately $2,710,353.26. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

James Blackie also recently made the following trade(s):

• On Monday, December 1st, James Blackie sold 11,599 shares of ON24 stock. The shares were sold at an average price of $5.70, for a total transaction of $66,114.30.
• On Thursday, November 20th, James Blackie sold 4,659 shares of ON24 stock. The shares were sold at an average price of $5.30, for a total transaction of $24,692.70.
• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The stock was sold at an average price of $5.58, for a total transaction of $16,806.96.
• On Friday, September 5th, James Blackie sold 3,770 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total transaction of $20,810.40.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $25,347.84.

ON24 Price Performance

Shares of ONTF stock opened at $5.87 on Thursday. The company has a market cap of $248.20 million, a PE ratio of -7.88 and a beta of 0.66. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.03. The stock’s 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $5.43.

ON24 (NYSE:ONTF) last released its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate 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. Equities research analysts expect that ON24, Inc. will post -0.81 EPS for the current year.

Institutional Trading of ON24

Several institutional investors and hedge funds have recently made changes to their positions in ONTF. Lynrock Lake LP grew its holdings in ON24 by 4.5% during the 1st quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after acquiring an additional 329,715 shares in the last quarter. Federated Hermes Inc. increased its holdings in ON24 by 0.5% during the third quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company’s stock valued at $6,736,000 after buying an additional 5,347 shares during the period. Geode Capital Management LLC raised its stake in ON24 by 13.7% in the second quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock worth $4,629,000 after buying an additional 102,396 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in ON24 by 1.8% during the second quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock worth $4,590,000 after buying an additional 14,851 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased 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 valued at $4,063,000 after acquiring an additional 116,400 shares during the period. 83.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ONTF shares. Robert W. Baird upped their target price on ON24 from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Canaccord Genuity Group raised their price target on shares of ON24 from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $6.00.

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.