James Blackie Sells 6,282 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) CRO James Blackie sold 6,282 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $5.60, for a total value of $35,179.20. Following the transaction, the executive now owns 531,721 shares in the company, valued at $2,977,637.60. This represents a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $5.54, for a total transaction of $22,320.66.
• On Monday, June 2nd, James Blackie sold 3,478 shares of ON24 stock. The stock was sold at an average price of $5.64, for a total value 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 value of $92,889.18.
• On Thursday, March 6th, James Blackie sold 800 shares of ON24 stock. The stock was sold at an average price of $5.81, for a total transaction of $4,648.00.

ON24 Stock Down 2.0%

NYSE:ONTF traded down $0.11 during trading hours on Wednesday, reaching $5.49. 192,636 shares of the stock were exchanged, compared to its average volume of 137,079. The business has a 50-day moving average of $5.00 and a two-hundred day moving average of $5.90. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.04. The company has a market capitalization of $233.19 million, a price-to-earnings ratio of -5.28 and a beta of 0.56.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ON24

A number of institutional investors and hedge funds have recently made changes to their positions in ONTF. SG Americas Securities LLC lifted its position in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock worth $91,000 after purchasing an additional 3,891 shares during the last quarter. Squarepoint Ops LLC increased its holdings 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 buying an additional 5,713 shares during the last quarter. Wells Fargo & Company MN increased its holdings 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 buying an additional 3,518 shares during the last quarter. AQR Capital Management LLC increased its holdings in ON24 by 15.9% in the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock valued at $113,000 after buying an additional 2,989 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in ON24 in the fourth quarter valued at $175,000. 83.93% of the stock is owned by institutional investors and hedge funds.

About ON24

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.

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