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 company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $5.49, for a total value of $13,439.52. Following the completion of the sale, the chief financial officer now owns 656,580 shares in the company, valued at $3,604,624.20. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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 stock was sold at an average price of $5.64, for a total value of $22,847.64.

ON24 Trading Up 0.1%

NYSE:ONTF traded up $0.01 on Friday, reaching $5.54. The stock had a trading volume of 247,099 shares, compared to its average volume of 137,190. ON24, Inc. has a 12-month low of $4.35 and a 12-month high of $7.04. The company has a 50-day moving average of $5.01 and a 200 day moving average of $5.89. The stock has a market cap of $235.10 million, a P/E ratio of -5.32 and a beta of 0.66.

ON24 announced that its Board of Directors has approved a stock repurchase plan on Monday, May 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 22.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Canaccord Genuity Group decreased their price target on ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price target on ON24 from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird lowered their price objective on ON24 from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. William Blair reissued a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.33.

Institutional Investors Weigh In On ON24

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its stake 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 valued at $91,000 after acquiring an additional 3,891 shares during the period. Squarepoint Ops LLC boosted 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 during the period. Wells Fargo & Company MN boosted its stake 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 period. AQR Capital Management LLC boosted its stake in ON24 by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock worth $113,000 after purchasing an additional 2,989 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of ON24 during the 4th quarter valued at $175,000. Institutional investors and hedge funds own 83.93% of the company's stock.

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.

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