ON24 (NYSE:ONTF) Insider Jayesh Sahasi Sells 4,608 Shares

Key Points

• On September 5th, insider Jayesh Sahasi sold 4,608 shares of ON24 stock at an average price of $5.52, reducing their stake by 0.62% to 737,913 shares.
• ON24's stock was trading at about $5.53 with a market capitalization of $233.85 million, and it recently implemented a $50 million share buyback plan.
• Analysts have downgraded ON24 from a "buy" to a "hold" rating, with a consensus price target set at $5.33.

ON24, Inc. (NYSE:ONTF - Get Free Report) insider Jayesh Sahasi sold 4,608 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $5.52, for a total transaction of $25,436.16. Following the completion of the transaction, the insider owned 737,913 shares in the company, valued at approximately $4,073,279.76. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 8th, Jayesh Sahasi sold 3,681 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total transaction of $20,539.98.
• On Thursday, September 4th, Jayesh Sahasi sold 5,612 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total transaction of $30,978.24.
• On Wednesday, September 3rd, Jayesh Sahasi sold 3,114 shares of ON24 stock. The stock was sold at an average price of $5.43, for a total transaction of $16,909.02.
• On Tuesday, September 2nd, Jayesh Sahasi sold 2,828 shares of ON24 stock. The stock was sold at an average price of $5.60, for a total transaction of $15,836.80.
• On Wednesday, August 20th, Jayesh Sahasi sold 2,888 shares of ON24 stock. The stock was sold at an average price of $5.21, for a total transaction of $15,046.48.

ON24 Stock Down 1.3%

Shares of ONTF stock traded down $0.08 during trading hours on Friday, hitting $5.49. 93,325 shares of the company were exchanged, compared to its average volume of 138,947. The firm has a market cap of $232.07 million, a PE ratio of -6.38 and a beta of 0.66. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.03. The firm has a fifty day moving average of $5.27 and a 200 day moving average of $5.25.

Institutional Trading of ON24

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in ON24 by 15.9% during the 1st 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 in the last quarter. Wells Fargo & Company MN grew its position in ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock valued at $112,000 after acquiring an additional 3,518 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in ON24 by 24.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company's stock valued at $111,000 after acquiring an additional 4,004 shares in the last quarter. Federated Hermes Inc. grew its position in ON24 by 0.4% in the second quarter. Federated Hermes Inc. now owns 1,172,241 shares of the company's stock valued at $6,365,000 after acquiring an additional 4,578 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in ON24 by 26.4% in the second quarter. Intech Investment Management LLC now owns 23,042 shares of the company's stock valued at $125,000 after acquiring an additional 4,809 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of ON24 from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, ON24 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.