ON24, Inc. (NYSE:ONTF) Insider Sells $194,965.44 in Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) insider Sharat Sharan sold 37,784 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $5.16, for a total transaction of $194,965.44. Following the transaction, the insider owned 3,575,339 shares in the company, valued at approximately $18,448,749.24. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sharat Sharan also recently made the following trade(s):

• On Monday, June 30th, Sharat Sharan sold 61,467 shares of ON24 stock. The shares were sold at an average price of $5.47, for a total transaction of $336,224.49.
• On Tuesday, June 17th, Sharat Sharan sold 37,527 shares of ON24 stock. The shares were sold at an average price of $5.39, for a total transaction of $202,270.53.
• On Thursday, May 22nd, Sharat Sharan sold 31,305 shares of ON24 stock. The shares were sold at an average price of $5.44, for a total transaction of $170,299.20.
• On Friday, May 23rd, Sharat Sharan sold 6,369 shares of ON24 stock. The shares were sold at an average price of $5.42, for a total transaction of $34,519.98.
• On Thursday, April 17th, Sharat Sharan sold 3,529 shares of ON24 stock. The shares were sold at an average price of $4.54, for a total transaction of $16,021.66.

ON24 Stock Performance

Shares of NYSE:ONTF traded down $0.07 during trading on Friday, reaching $5.23. The stock had a trading volume of 141,825 shares, compared to its average volume of 142,282. The firm's fifty day moving average is $5.42 and its 200 day moving average is $5.63. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.04. The stock has a market cap of $222.12 million, a price-to-earnings ratio of -5.45 and a beta of 0.65.

ON24 declared that its board has authorized a stock buyback plan on Monday, May 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 22.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On ON24

Several institutional investors have recently added to or reduced their stakes in ONTF. Public Employees Retirement System of Ohio boosted its position 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 worth $66,000 after purchasing an additional 8,515 shares during the period. Squarepoint Ops LLC raised its stake in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock valued at $102,000 after purchasing an additional 5,713 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of ON24 by 25.6% during the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock worth $112,000 after acquiring an additional 3,518 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of ON24 by 15.9% in the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock worth $113,000 after purchasing an additional 2,989 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in ON24 in the fourth quarter valued at $175,000. Institutional investors own 83.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONTF. Canaccord Genuity Group decreased their target price on shares of ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Robert W. Baird decreased their target price on shares of ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, ON24 currently has a consensus rating of "Hold" and an average target price of $5.33.

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.