Key Points
- Insider sale: ON24 director Sharat Sharan sold 32,211 shares on Nov. 24 at an average price of $5.30 for $170,718, trimming his stake by 0.88% to 3,613,147 shares after similar ~32k-share sales in September and October.
- Earnings and guidance: ON24 beat quarterly estimates with $0.03 EPS (vs. $0.01) and $34.6M revenue (vs. $33.87M) and set FY2025 EPS guidance of $0.050–0.060 and Q4 guidance of $0.010–0.020.
- Market view: Despite the beat, analysts hold a consensus "Reduce" rating with a $6 target; the stock trades around $5.60, has a $236.6M market cap, negative margins/ROE, and roughly 83.9% institutional ownership.
ON24, Inc. (NYSE:ONTF - Get Free Report) insider Sharat Sharan sold 32,211 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $5.30, for a total value of $170,718.30. Following the sale, the insider directly owned 3,613,147 shares of the company's stock, valued at approximately $19,149,679.10. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Sharat Sharan also recently made the following trade(s):
- 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 transaction of $174,906.85.
- On Tuesday, September 16th, Sharat Sharan sold 32,159 shares of ON24 stock. The shares were sold at an average price of $5.55, for a total transaction of $178,482.45.
ON24 Stock Up 4.4%
Shares of ON24 stock opened at $5.60 on Wednesday. The company's fifty day simple moving average is $5.53 and its two-hundred day simple moving average is $5.42. ON24, Inc. has a 12-month low of $4.35 and a 12-month high of $7.03. The firm has a market cap of $236.56 million, a PE ratio of -7.56 and a beta of 0.66.
ON24 (NYSE:ONTF - Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate 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. Q4 2025 guidance at 0.010-0.020 EPS. As a group, sell-side analysts expect that ON24, Inc. will post -0.81 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ON24
Hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new stake in ON24 in the third quarter worth $60,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of ON24 during the 3rd quarter valued at $61,000. Public Employees Retirement System of Ohio grew its position in shares of ON24 by 228.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company's stock worth $66,000 after buying an additional 8,515 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of ON24 in the 2nd quarter worth about $78,000. Finally, Russell Investments Group Ltd. increased its stake in shares of ON24 by 43.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 15,918 shares of the company's stock worth $91,000 after acquiring an additional 4,823 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ONTF has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ON24 in a research report on Wednesday, October 8th. Wall Street Zen raised ON24 from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. Canaccord Genuity Group lifted their price target on shares of ON24 from $5.00 to $6.00 and gave the company a "hold" rating in a report on Tuesday, November 11th. Finally, Robert W. Baird upped their price objective on shares of ON24 from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, November 11th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $6.00.
Get Our Latest Report on ONTF
About ON24
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
