ON24 (NYSE:ONTF) Insider Jayesh Sahasi Sells 11,681 Shares

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 11,681 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $5.66, for a total value of $66,114.46. Following the completion of the sale, the insider owned 707,280 shares of the company’s stock, valued at $4,003,204.80. The trade was a 1.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 stock was sold at an average price of $5.30, for a total value of $21,724.70.
• On Monday, September 8th, Jayesh Sahasi sold 3,681 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total value of $20,539.98.
• On Friday, September 5th, Jayesh Sahasi sold 4,608 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $25,436.16.
• On Thursday, September 4th, Jayesh Sahasi sold 5,612 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total transaction of $30,978.24.

ON24 Stock Performance

Shares of ON24 stock traded up $0.23 on Wednesday, hitting $5.88. 156,578 shares of the company traded hands, compared to its average volume of 156,167. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.03. The business has a 50-day simple moving average of $5.51 and a 200 day simple moving average of $5.43. The stock has a market capitalization of $248.40 million, a P/E ratio of -7.94 and a beta of 0.66.

ON24 (NYSE:ONTF) last issued its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $34.60 million during the quarter, compared to analyst estimates of $33.87 million. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. Research analysts expect that ON24, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of ON24

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV purchased a new position in ON24 during the third quarter worth $60,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ON24 in the third quarter valued at $61,000. Public Employees Retirement System of Ohio lifted its holdings in shares of ON24 by 228.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock worth $66,000 after acquiring an additional 8,515 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of ON24 during the 2nd quarter worth about $78,000. Finally, Russell Investments Group Ltd. grew its holdings in ON24 by 43.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the company’s stock valued at $91,000 after purchasing an additional 4,823 shares during the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

About ON24

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.