Key Points
- Insider sale: Sharat Sharan sold 19,119 ON24 shares on Dec. 17 at an average $5.82 for $111,272.58, trimming his stake by 0.52% to 3,622,891 shares (he also sold large blocks on Nov. 24 and Oct. 16).
- Earnings and guidance: ON24 beat recent quarterly estimates with $0.03 EPS (vs. $0.01 est.) and $34.6M revenue, and set FY2025 guidance of $0.050–0.060 EPS and Q4 guidance of $0.010–0.020 EPS despite analysts forecasting -0.81 EPS for the current year.
- Stock profile and sentiment: ON24 trades around $5.81 with a $245.7M market cap and negative P/E (-7.85); institutional ownership is ~83.9% and analysts have an average "Reduce" rating with a $6.00 consensus target.
ON24, Inc. (NYSE:ONTF - Get Free Report) insider Sharat Sharan sold 19,119 shares of the business's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $5.82, for a total transaction of $111,272.58. Following the sale, the insider directly owned 3,622,891 shares in the company, valued at $21,085,225.62. The trade was a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Sharat Sharan also recently made the following trade(s):
- On Monday, November 24th, Sharat Sharan sold 32,211 shares of ON24 stock. The stock was sold at an average price of $5.30, for a total transaction of $170,718.30.
- On Thursday, October 16th, Sharat Sharan sold 32,093 shares of ON24 stock. The shares were sold at an average price of $5.45, for a total transaction of $174,906.85.
ON24 Stock Up 1.4%
ON24 stock opened at $5.81 on Friday. The stock has a market cap of $245.66 million, a price-to-earnings ratio of -7.85 and a beta of 0.66. The business has a 50-day simple moving average of $5.56 and a 200 day simple moving average of $5.46. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.03.
ON24 (NYSE:ONTF - Get Free Report) last announced its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $33.87 million. 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, research analysts anticipate that ON24, Inc. will post -0.81 earnings per share for the current year.
Institutional Trading of ON24
Large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV bought a new stake in ON24 in the 3rd quarter worth approximately $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 raised its holdings in ON24 by 228.5% during the second quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company's stock valued at $66,000 after acquiring an additional 8,515 shares during the period. Brevan Howard Capital Management LP purchased a new position in ON24 in the 2nd quarter worth approximately $78,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of ON24 by 43.5% in the third quarter. Russell Investments Group Ltd. now owns 15,918 shares of the company's stock worth $91,000 after buying an additional 4,823 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of ON24 from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ON24 in a report on Wednesday, October 8th. Canaccord Genuity Group lifted their target price on shares of ON24 from $5.00 to $6.00 and gave the company a "hold" rating in a research note on Tuesday, November 11th. Finally, Robert W. Baird upped their price target on ON24 from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $6.00.
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ON24 Company Profile
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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.
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