ON24 (NYSE:ONTF) CRO James Blackie Sells 16,000 Shares

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $7.96, for a total value of $127,360.00. Following the completion of the transaction, the executive directly owned 478,861 shares in the company, valued at $3,811,733.56. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $5.66, for a total value of $61,982.66.
• 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 value of $66,114.30.
• 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.

ON24 Price Performance

Shares of NYSE:ONTF traded up $0.01 during midday trading on Friday, reaching $7.97. The company’s stock had a trading volume of 645,247 shares, compared to its average volume of 309,137. The business’s fifty day simple moving average is $5.76 and its 200-day simple moving average is $5.53. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $8.10. The company has a market capitalization of $336.76 million, a P/E ratio of -10.76 and a beta of 0.60.

ON24 (NYSE:ONTF) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $34.60 million for 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. On average, analysts forecast that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTF has been the topic of several research reports. Wall Street Zen raised ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Canaccord Genuity Group upped their price target on ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Finally, Robert W. Baird boosted their price objective on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a report on Friday. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ON24 presently has an average rating of “Reduce” and an average price target of $7.40.

Hedge Funds Weigh In On ON24

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. P.A.W. Capital Corp increased its position in shares of ON24 by 87.5% in the 2nd quarter. P.A.W. Capital Corp now owns 300,000 shares of the company’s stock valued at $1,629,000 after buying an additional 140,000 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in ON24 by 18.0% during the first quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock worth $4,319,000 after acquiring an additional 127,010 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in ON24 by 19.6% in the third 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. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 102,396 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of ON24 by 75.8% during the third quarter. Two Sigma Investments LP now owns 206,340 shares of the company’s stock worth $1,180,000 after purchasing an additional 88,936 shares during the period. 83.93% of the stock is owned by institutional investors.

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.