ON24, Inc. (NYSE:ONTF) CRO Sells $11,539.98 in Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) CRO James Blackie sold 2,102 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $5.49, for a total transaction of $11,539.98. Following the completion of the transaction, the executive now directly owns 525,590 shares in the company, valued at approximately $2,885,489.10. The trade was a 0.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

James Blackie also recently made the following trade(s):

• On Wednesday, June 4th, James Blackie sold 4,029 shares of ON24 stock. The shares were sold at an average price of $5.54, for a total transaction of $22,320.66.
• On Tuesday, June 3rd, James Blackie sold 6,282 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total transaction of $35,179.20.
• On Monday, June 2nd, James Blackie sold 3,478 shares of ON24 stock. The shares were sold at an average price of $5.64, for a total transaction of $19,615.92.
• On Monday, March 10th, James Blackie sold 16,767 shares of ON24 stock. The shares were sold at an average price of $5.54, for a total transaction of $92,889.18.

ON24 Trading Up 0.7%

Shares of ONTF stock traded up $0.04 during trading hours on Monday, hitting $5.57. 169,385 shares of the company were exchanged, compared to its average volume of 137,423. The firm has a fifty day simple moving average of $5.02 and a 200 day simple moving average of $5.88. ON24, Inc. has a 52-week low of $4.35 and a 52-week high of $7.04. The stock has a market capitalization of $236.59 million, a price-to-earnings ratio of -5.36 and a beta of 0.66.

ON24 announced that its Board of Directors has initiated a stock buyback program on Monday, May 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 22.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group decreased their price objective on shares of ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. William Blair reiterated a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. Robert W. Baird decreased their price objective on shares of ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, ON24 has a consensus rating of "Hold" and a consensus price target of $5.33.

Institutional Investors Weigh In On ON24

Several large investors have recently modified their holdings of ONTF. Charles Schwab Investment Management Inc. boosted its holdings in ON24 by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 285,071 shares of the company's stock worth $1,842,000 after buying an additional 2,189 shares during the period. AQR Capital Management LLC boosted its holdings in ON24 by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock worth $113,000 after buying an additional 2,989 shares during the period. Wells Fargo & Company MN boosted its holdings in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock worth $112,000 after buying an additional 3,518 shares during the period. SG Americas Securities LLC boosted its holdings in ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock worth $91,000 after buying an additional 3,891 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock worth $102,000 after buying an additional 5,713 shares during the period. Hedge funds and other institutional investors own 83.93% of the company's stock.

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.