Sharat Sharan Sells 17,750 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 17,750 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $6.13, for a total transaction of $108,807.50. Following the sale, the insider now directly owns 3,069,728 shares of the company’s stock, valued at approximately $18,817,432.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, September 17th, Sharat Sharan sold 37,965 shares of ON24 stock. The stock was sold at an average price of $6.22, for a total transaction of $236,142.30.

ON24 Stock Down 0.7 %

Shares of NYSE:ONTF opened at $6.05 on Friday. The company has a market capitalization of $253.28 million, a price-to-earnings ratio of -5.82 and a beta of 0.47. The company has a 50 day moving average of $6.18 and a two-hundred day moving average of $6.30. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $8.35.

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

Wall Street Analyst Weigh In

ONTF has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research report on Wednesday, August 7th.

Institutional Trading of ON24

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in ON24 in the third quarter valued at about $62,000. Marshall Wace LLP acquired a new position in shares of ON24 in the 2nd quarter valued at approximately $72,000. The Manufacturers Life Insurance Company boosted its stake 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 buying an additional 2,158 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of 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 buying an additional 2,401 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of ON24 during the first quarter worth approximately $461,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

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.