ON24 (NYSE:ONTF) Insider Sharat Sharan Sells 19,119 Shares

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 19,119 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $5.82, for a total transaction of $111,272.58. Following the completion of the transaction, the insider directly owned 3,622,891 shares in the company, valued at $21,085,225.62. The trade was a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The shares were 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 stock was sold at an average price of $5.45, for a total value of $174,906.85.

ON24 Price Performance

Shares of ONTF stock traded up $0.08 on Thursday, hitting $5.81. The stock had a trading volume of 148,173 shares, compared to its average volume of 156,878. The firm has a market capitalization of $245.65 million, a P/E ratio of -7.85 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 company’s 50 day moving average price is $5.55 and its 200-day moving average price is $5.46.

ON24 (NYSE:ONTF) last posted 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. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.The firm had revenue of $34.60 million for the quarter, compared to analyst estimates 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. On average, equities analysts forecast that ON24, Inc. will post -0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ON24

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of ON24 by 22.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock valued at $85,000 after purchasing an additional 2,700 shares during the last quarter. AQR Capital Management LLC grew its position in shares of ON24 by 15.9% during the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after acquiring an additional 2,989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ON24 by 24.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company’s stock valued at $111,000 after acquiring an additional 4,004 shares during the period. Prelude Capital Management LLC raised its position in ON24 by 33.9% in 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 last quarter. Finally, CWM LLC boosted its stake in ON24 by 29.2% during the 3rd quarter. CWM LLC now owns 19,982 shares of the company’s stock worth $114,000 after purchasing an additional 4,512 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.