ON24 (NYSE:ONTF) CFO Sells $23,408.10 in Stock

Key Points

• ON24 CFO Steven Vattuone sold 4,195 shares at an average price of $5.58, totaling approximately $23,408, reducing his ownership by 0.69%.
• The company’s stock price has recently fallen, trading down 1.5% to $5.53, with a market capitalization of $233.85 million.
• Wall Street analysts downgraded ON24 from a "buy" to a "hold" rating, indicating cautious sentiment among investors with an average target price of $5.33.

ON24, Inc. (NYSE:ONTF - Get Free Report) CFO Steven Vattuone sold 4,195 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $5.58, for a total value of $23,408.10. Following the transaction, the chief financial officer directly owned 603,710 shares in the company, valued at $3,368,701.80. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, September 9th, Steven Vattuone sold 20,116 shares of ON24 stock. The shares were sold at an average price of $5.54, for a total value of $111,442.64.
• On Friday, September 5th, Steven Vattuone sold 5,251 shares of ON24 stock. The shares were 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 stock was sold at an average price of $5.21, for a total value of $16,119.74.

ON24 Trading Down 1.3%

NYSE:ONTF traded down $0.08 during mid-day trading on Friday, reaching $5.49. 93,325 shares of the stock were exchanged, compared to its average volume of 138,947. The business has a fifty day moving average price of $5.27 and a 200 day moving average price of $5.25. The firm has a market capitalization 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.

Hedge Funds Weigh In On ON24

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its stake 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 purchasing an additional 5,713 shares in the last quarter. Millennium Management LLC boosted its position in ON24 by 84.8% during the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company's stock worth $920,000 after acquiring an additional 65,322 shares during the period. BNP Paribas Financial Markets acquired a new stake in ON24 during the 4th quarter worth about $777,000. Two Sigma Investments LP boosted its position in ON24 by 11.9% during the 4th quarter. Two Sigma Investments LP now owns 175,366 shares of the company's stock worth $1,133,000 after acquiring an additional 18,647 shares during the period. Finally, P.A.W. Capital Corp boosted its position in ON24 by 113.3% during the 1st quarter. P.A.W. Capital Corp now owns 160,000 shares of the company's stock worth $832,000 after acquiring an additional 85,000 shares during the period. Hedge funds and other institutional investors own 83.93% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered ON24 from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.