ON24, Inc. (NYSE:ONTF) CRO Sells $27,787.60 in Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 4,376 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total value of $27,787.60. Following the transaction, the executive now directly owns 437,161 shares in the company, valued at $2,775,972.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ON24 Stock Performance

Shares of ONTF stock traded down $0.04 during midday trading on Thursday, reaching $6.15. 96,290 shares of the company were exchanged, compared to its average volume of 192,112. The company’s 50 day moving average price is $6.21 and its two-hundred day moving average price is $6.44. The company has a market cap of $255.41 million, a P/E ratio of -5.91 and a beta of 0.47. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $8.35.

ON24 (NYSE:ONTF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The company had revenue of $37.35 million during the quarter, compared to the consensus estimate of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. As a group, sell-side analysts predict that ON24, Inc. will post -0.73 earnings per share for the current year.

Institutional Trading of ON24

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of ON24 by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after acquiring an additional 2,158 shares during the last quarter. Quadrature Capital Ltd boosted its position in ON24 by 8.9% during the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after purchasing an additional 2,401 shares during the period. Cubist Systematic Strategies LLC boosted its position in ON24 by 8.8% during the second quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after purchasing an additional 5,337 shares during the period. Gladius Capital Management LP acquired a new position in ON24 during the fourth quarter valued at approximately $71,000. Finally, Marshall Wace LLP bought a new position in shares of ON24 in the second quarter valued at approximately $72,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ONTF. JPMorgan Chase & Co. dropped their price target on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

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.