Key Points
- ON24 insider Sharat Sharan sold 2,310 shares on Feb. 10 at an average price of $7.93 for $18,318.30, and still holds 3,625,575 shares valued at roughly $28.75 million (a 0.06% stake reduction).
- The Feb. 10 sale is part of a string of recent disposals by Sharan — including 50,332 shares on Dec. 31 (~$401k), 19,119 on Dec. 17 (~$111k) and 32,211 on Nov. 24 (~$171k) — signaling ongoing insider selling.
- ON24 trades near its 52‑week high (~$8.10) at about $7.95, has a market cap around $336 million and negative profitability metrics, and carries a MarketBeat consensus rating of "Reduce" with an average price target of $7.40.
ON24, Inc. (NYSE:ONTF - Get Free Report) insider Sharat Sharan sold 2,310 shares of ON24 stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $7.93, for a total value of $18,318.30. Following the completion of the sale, the insider owned 3,625,575 shares of the company's stock, valued at approximately $28,750,809.75. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Sharat Sharan also recently made the following trade(s):
- On Wednesday, December 31st, Sharat Sharan sold 50,332 shares of ON24 stock. The shares were sold at an average price of $7.97, for a total transaction of $401,146.04.
- On Wednesday, December 17th, Sharat Sharan sold 19,119 shares of ON24 stock. The shares were sold at an average price of $5.82, for a total transaction of $111,272.58.
- 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.
ON24 Price Performance
ONTF opened at $7.95 on Wednesday. The firm has a 50 day simple moving average of $7.17 and a 200 day simple moving average of $6.05. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $8.10. The company has a market cap of $335.91 million, a price-to-earnings ratio of -10.74 and a beta of 0.61.
ON24 (NYSE:ONTF - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $34.60 million for the quarter, compared to analysts' expectations of $33.87 million. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. As a group, analysts expect that ON24, Inc. will post -0.81 EPS for the current year.
Institutional Investors Weigh In On ON24
Several large investors have recently modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of ON24 by 0.5% during the 3rd quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company's stock worth $6,736,000 after acquiring an additional 5,347 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ON24 by 13.7% during the second quarter. Geode Capital Management LLC now owns 852,320 shares of the company's stock worth $4,629,000 after purchasing an additional 102,396 shares during the last quarter. Acadian Asset Management LLC grew its position in ON24 by 1.8% in the second quarter. Acadian Asset Management LLC now owns 845,702 shares of the company's stock valued at $4,590,000 after purchasing an additional 14,851 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in ON24 by 19.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company's stock valued at $4,063,000 after purchasing an additional 116,400 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in ON24 by 4.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company's stock valued at $1,749,000 after buying an additional 13,600 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on ONTF. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ON24 in a research note on Thursday, January 22nd. Wall Street Zen upgraded ON24 from a "hold" rating to a "buy" rating in a research report on Saturday, November 15th. Canaccord Genuity Group upped their price target on ON24 from $6.00 to $8.10 and gave the company a "hold" rating in a research note on Wednesday, December 31st. Finally, Robert W. Baird lifted their price objective on shares of ON24 from $6.00 to $8.10 and gave the stock a "neutral" rating in a research note on Friday, January 2nd. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $7.40.
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About ON24
(
Get Free Report)
ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company's technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.
At the core of ON24's offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.
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