Insider Selling: ON24 (NYSE:ONTF) CFO Sells 20,116 Shares of Stock

Key Points

• ON24 CFO Steven Vattuone sold 20,116 shares of the company's stock for a total of $111,442.64, reducing his position by 3.33%.
• The company's stock is currently trading at $5.53, with a 1-year range of $4.35 to $7.03.
• ON24's board has authorized a $50 million stock buyback program, which could indicate that management believes the stock is currently undervalued.

ON24, Inc. (NYSE:ONTF - Get Free Report) CFO Steven Vattuone sold 20,116 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $5.54, for a total value of $111,442.64. Following the transaction, the chief financial officer owned 583,594 shares of the company's stock, valued at approximately $3,233,110.76. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Steven Vattuone also recently made the following trade(s):

• On Monday, September 8th, Steven Vattuone sold 4,195 shares of ON24 stock. The stock was sold at an average price of $5.58, for a total value of $23,408.10.
• On Friday, September 5th, Steven Vattuone sold 5,251 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total value of $28,985.52.
• On Thursday, September 4th, Steven Vattuone sold 6,394 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total value of $35,294.88.
• On Wednesday, September 3rd, Steven Vattuone sold 3,549 shares of ON24 stock. The shares were sold at an average price of $5.43, for a total value of $19,271.07.
• On Tuesday, September 2nd, Steven Vattuone sold 3,222 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total value of $18,043.20.
• On Thursday, August 21st, Steven Vattuone sold 5,117 shares of ON24 stock. The shares were sold at an average price of $5.25, for a total value of $26,864.25.
• On Wednesday, August 20th, Steven Vattuone sold 3,094 shares of ON24 stock. The shares were sold at an average price of $5.21, for a total value of $16,119.74.

ON24 Stock Performance

NYSE ONTF traded down $0.08 during trading hours on Friday, hitting $5.49. 93,325 shares of the company traded hands, compared to its average volume of 138,947. The business's 50-day moving average is $5.27 and its 200-day moving average is $5.25. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.03. The stock has a market capitalization of $232.07 million, a price-to-earnings ratio of -6.38 and a beta of 0.66.

Institutional Investors Weigh In On ON24

Institutional investors have recently made changes to their positions in the company. 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 buying an additional 2,989 shares during the period. Wells Fargo & Company MN grew its stake in shares of 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. increased its position in ON24 by 24.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company's stock worth $111,000 after acquiring an additional 4,004 shares during the period. Federated Hermes Inc. increased its position in ON24 by 0.4% during the second quarter. Federated Hermes Inc. now owns 1,172,241 shares of the company's stock worth $6,365,000 after acquiring an additional 4,578 shares during the period. Finally, Intech Investment Management LLC raised its stake in ON24 by 26.4% in the 2nd quarter. Intech Investment Management LLC now owns 23,042 shares of the company's stock worth $125,000 after purchasing an additional 4,809 shares in the last quarter. Institutional investors own 83.93% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut ON24 from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.33.

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.