ON24 (NYSE:ONTF) Insider Sharat Sharan Sells 32,093 Shares

Key Points

• Insider Sharat Sharan sold 32,093 shares of ON24 stock at an average price of $5.45, totaling approximately $174,907, reducing his ownership by 0.89%.
• ON24's stock was trading at $5.45, showing a 2.9% increase during recent trading sessions, with a market cap of $230.36 million.
• Research analysts have mixed views on ON24, with one firm upgrading it to a "buy" and others maintaining a "hold" or "sell" rating, resulting in an average target price of $5.33.

ON24, Inc. (NYSE:ONTF - Get Free Report) insider Sharat Sharan sold 32,093 shares of the business's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $5.45, for a total value of $174,906.85. Following the transaction, the insider directly owned 3,591,899 shares of the company's stock, valued at approximately $19,575,849.55. The trade was a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Sharat Sharan also recently made the following trade(s):

• On Tuesday, September 16th, Sharat Sharan sold 32,159 shares of ON24 stock. The stock was sold at an average price of $5.55, for a total value of $178,482.45.

ON24 Trading Up 2.9%

NYSE ONTF traded up $0.16 during trading on Monday, hitting $5.45. 115,551 shares of the company's stock were exchanged, compared to its average volume of 153,190. The company has a market cap of $230.36 million, a PE ratio of -6.33 and a beta of 0.66. ON24, Inc. has a fifty-two week low of $4.35 and a fifty-two week high of $7.03. The stock's 50 day moving average price is $5.54 and its two-hundred day moving average price is $5.28.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen raised ON24 from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Weiss Ratings restated a "sell (d-)" rating on shares of ON24 in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $5.33.

Institutional Trading of ON24

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its holdings in ON24 by 228.5% in the second quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company's stock valued at $66,000 after acquiring an additional 8,515 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of ON24 during the 2nd quarter worth approximately $78,000. CWM LLC boosted its holdings in shares of ON24 by 29.2% during the 3rd quarter. CWM LLC now owns 19,982 shares of the company's stock worth $114,000 after buying an additional 4,512 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ON24 by 24.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company's stock worth $111,000 after buying an additional 4,004 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of 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 in the last quarter. 83.93% of the stock is currently owned by institutional investors.

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.

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