James Blackie Sells 11,599 Shares of ON24 (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 11,599 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.70, for a total value of $66,114.30. Following the sale, the executive owned 489,812 shares of the company’s stock, valued at approximately $2,791,928.40. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, December 2nd, James Blackie sold 10,951 shares of ON24 stock. The stock was sold at an average price of $5.66, for a total value of $61,982.66.
• On Thursday, November 20th, James Blackie sold 4,659 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total value of $24,692.70.
• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The shares were 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 transaction of $25,347.84.

ON24 Stock Down 1.4%

NYSE ONTF opened at $5.83 on Friday. The company has a market capitalization of $246.28 million, a P/E ratio of -7.87 and a beta of 0.66. The firm has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $5.43. ON24, Inc. has a 12-month low of $4.35 and a 12-month high of $7.03.

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

Institutional Investors Weigh In On ON24

A number of institutional investors have recently made changes to their positions in ONTF. Jacobs Levy Equity Management Inc. raised its position in shares of ON24 by 4.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock worth $1,749,000 after acquiring an additional 13,600 shares during the last quarter. Prelude Capital Management LLC increased its position in ON24 by 33.9% during the 3rd quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock valued at $97,000 after purchasing an additional 4,300 shares during the period. Public Employees Retirement System of Ohio raised its holdings in ON24 by 22.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock worth $85,000 after purchasing an additional 2,700 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of ON24 in the 3rd quarter worth approximately $60,000. Finally, Millennium Management LLC acquired a new position in shares of ON24 in the 3rd quarter worth approximately $175,000. Institutional investors own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.