Steven Vattuone Sells 5,216 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CFO Steven Vattuone sold 5,216 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $33,121.60. Following the sale, the chief financial officer now owns 563,567 shares in the company, valued at $3,578,650.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ON24 Price Performance

Shares of ONTF stock opened at $5.91 on Friday. The company has a market capitalization of $247.42 million, a P/E ratio of -5.68 and a beta of 0.47. The company’s 50-day simple moving average is $6.21 and its two-hundred day simple moving average is $6.42. ON24, Inc. has a one year low of $5.37 and a one year high of $8.35.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The firm had revenue of $37.35 million during the quarter, compared to analysts’ expectations of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. On average, research analysts expect that ON24, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On ON24

Several institutional investors have recently made changes to their positions in ONTF. The Manufacturers Life Insurance Company boosted its position in 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 in the last quarter. Quadrature Capital Ltd grew its stake in ON24 by 8.9% in the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after purchasing an additional 2,401 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in ON24 by 8.8% in 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 in the last quarter. Gladius Capital Management LP purchased a new stake in shares of ON24 during the fourth quarter valued at about $71,000. Finally, Marshall Wace LLP bought a new stake in shares of ON24 in the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ONTF shares. JPMorgan Chase & Co. lowered their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of ON24 in a report on Wednesday, August 7th.

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.