ON24, Inc. (NYSE:ONTF) Insider Jayesh Sahasi Sells 1,800 Shares

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 1,800 shares of ON24 stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $6.00, for a total value of $10,800.00. Following the sale, the insider now directly owns 754,247 shares of the company’s stock, valued at approximately $4,525,482. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jayesh Sahasi also recently made the following trade(s):

• On Monday, July 1st, Jayesh Sahasi sold 3 shares of ON24 stock. The shares were sold at an average price of $6.00, for a total value of $18.00.
• On Wednesday, June 5th, Jayesh Sahasi sold 3,634 shares of ON24 stock. The shares were sold at an average price of $5.81, for a total value of $21,113.54.
• On Monday, June 3rd, Jayesh Sahasi sold 2,680 shares of ON24 stock. The shares were sold at an average price of $5.78, for a total value of $15,490.40.

ON24 Trading Down 0.2 %

ONTF stock traded down $0.01 during midday trading on Wednesday, hitting $5.94. The company’s stock had a trading volume of 93,287 shares, compared to its average volume of 208,613. The company has a market cap of $248.71 million, a PE ratio of -5.71 and a beta of 0.47. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $9.09. The firm’s 50-day moving average is $6.12 and its 200-day moving average is $6.87.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The business had revenue of $37.73 million during the quarter, compared to the consensus estimate of $37.00 million. ON24 had a negative net margin of 28.35% and a negative return on equity of 19.97%. Analysts expect that ON24, Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Friday, May 17th.

Hedge Funds Weigh In On ON24

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gladius Capital Management LP purchased a new stake in ON24 in the 4th quarter worth $71,000. Public Employees Retirement System of Ohio increased its holdings in shares of ON24 by 124.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 15,528 shares of the company’s stock worth $122,000 after purchasing an additional 8,600 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of ON24 by 8.9% in the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after purchasing an additional 2,401 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in ON24 in the fourth quarter worth about $375,000. Finally, Quest Partners LLC purchased a new position in ON24 in the fourth quarter worth about $440,000. 83.93% of the stock is owned by 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.