ON24 (NYSE:ONTF) CFO Steven Vattuone Sells 4,195 Shares

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 company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $5.58, for a total value of $23,408.10. Following the completion of the transaction, the chief financial officer directly owned 603,710 shares in the company, valued at approximately $3,368,701.80. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 9th, Steven Vattuone sold 20,116 shares of ON24 stock. The stock was 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 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 stock was 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 stock was sold at an average price of $5.43, for a total transaction 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 transaction 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 transaction 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 transaction of $16,119.74.

ON24 Stock Down 1.5%

ONTF traded down $0.08 during midday trading on Tuesday, reaching $5.53. 157,877 shares of the company's stock were exchanged, compared to its average volume of 140,565. The firm has a market capitalization of $233.85 million, a price-to-earnings ratio of -6.43 and a beta of 0.66. ON24, Inc. has a one year low of $4.35 and a one year high of $7.03. The business has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $5.26.

ON24 declared that its board has approved a share repurchase program on Monday, May 12th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 22.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted 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 acquiring an additional 2,989 shares during the last quarter. Wells Fargo & Company MN boosted 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 buying an additional 3,518 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 4,004 shares during the period. Federated Hermes Inc. boosted its holdings in shares of ON24 by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,172,241 shares of the company's stock valued at $6,365,000 after purchasing an additional 4,578 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in ON24 by 26.4% during 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 and hedge funds 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 report on Friday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.