ON24 (NYSE:ONTF) CRO Sells $20,810.40 in Stock

Key Points

• James Blackie, the Chief Revenue Officer of ON24, sold a total of $20,810.40 worth of shares in multiple transactions, decreasing his ownership to approximately 509,082 shares.
• ON24's stock has seen a minor decline of 1.5%, currently trading at $5.53 with a market cap of $233.85 million.
• The board of ON24 has approved a share repurchase program allowing for the buyback of up to $50 million in shares, indicating a belief that the stock is currently undervalued.

ON24, Inc. (NYSE:ONTF - Get Free Report) CRO James Blackie sold 3,770 shares of ON24 stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $5.52, for a total value of $20,810.40. Following the sale, the executive owned 509,082 shares of the company's stock, valued at approximately $2,810,132.64. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

James Blackie also recently made the following trade(s):

• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total value of $16,806.96.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The shares were sold at an average price of $5.52, for a total value of $25,347.84.
• On Wednesday, September 3rd, James Blackie sold 2,549 shares of ON24 stock. The shares were sold at an average price of $5.43, for a total value of $13,841.07.
• On Tuesday, September 2nd, James Blackie sold 2,314 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total value of $12,958.40.
• On Wednesday, August 20th, James Blackie sold 3,283 shares of ON24 stock. The shares were sold at an average price of $5.21, for a total value of $17,104.43.

ON24 Stock Performance

Shares of ON24 stock traded down $0.08 during trading on Friday, hitting $5.49. 93,325 shares of the stock traded hands, compared to its average volume of 138,947. The stock has a market cap of $232.07 million, a P/E ratio of -6.38 and a beta of 0.66. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.03. The company has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.25.

Institutional Investors Weigh In On ON24

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in ON24 by 228.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company's stock worth $66,000 after purchasing an additional 8,515 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in ON24 in the 2nd quarter worth approximately $78,000. Squarepoint Ops LLC lifted its holdings 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ON24 by 24.3% in the 2nd 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 last quarter. Finally, Wells Fargo & Company MN lifted its holdings in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock worth $112,000 after purchasing an additional 3,518 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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