Steven Vattuone Sells 2,448 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) CFO Steven Vattuone sold 2,448 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $5.49, for a total value of $13,439.52. Following the sale, the chief financial officer now owns 656,580 shares of the company's stock, valued at approximately $3,604,624.20. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, June 6th, Steven Vattuone sold 22,048 shares of ON24 stock. The shares were sold at an average price of $5.55, for a total value of $122,366.40.
• On Wednesday, June 4th, Steven Vattuone sold 4,692 shares of ON24 stock. The shares were sold at an average price of $5.54, for a total value of $25,993.68.
• On Tuesday, June 3rd, Steven Vattuone sold 7,316 shares of ON24 stock. The shares were sold at an average price of $5.60, for a total value of $40,969.60.
• On Monday, June 2nd, Steven Vattuone sold 4,051 shares of ON24 stock. The shares were sold at an average price of $5.64, for a total value of $22,847.64.

ON24 Price Performance

ONTF traded up $0.04 during trading on Monday, hitting $5.57. 169,385 shares of the stock traded hands, compared to its average volume of 137,423. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.04. The company has a market cap of $236.59 million, a price-to-earnings ratio of -5.36 and a beta of 0.66. The business has a 50 day moving average price of $5.02 and a 200 day moving average price of $5.88.

ON24 declared that its Board of Directors has approved a stock repurchase plan on Monday, May 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 22.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ONTF shares. Canaccord Genuity Group cut their price target on ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Robert W. Baird cut their price target on ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price target on ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, William Blair restated a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of ON24 by 38.1% during the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock worth $91,000 after buying an additional 3,891 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock worth $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of ON24 by 25.6% during the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock worth $112,000 after buying an additional 3,518 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of ON24 by 15.9% during the first 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. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ON24 during the fourth quarter worth $175,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

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.