ON24, Inc. (NYSE:ONTF) CRO James Blackie Sells 2,706 Shares

ON24, Inc. (NYSE:ONTFGet Rating) CRO James Blackie sold 2,706 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $11.25, for a total value of $30,442.50. Following the sale, the executive now directly owns 214,817 shares of the company’s stock, valued at $2,416,691.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NYSE:ONTF traded up $0.41 during trading hours on Monday, reaching $11.90. 271,098 shares of the company traded hands, compared to its average volume of 407,178. The firm’s 50-day moving average is $12.87 and its 200-day moving average is $14.90. The stock has a market cap of $557.50 million, a P/E ratio of -15.45 and a beta of -0.06. ON24, Inc. has a 1-year low of $8.54 and a 1-year high of $41.33.

ON24 (NYSE:ONTFGet Rating) last announced its earnings results on Monday, February 28th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $52.03 million for the quarter, compared to analysts’ expectations of $51.53 million. ON24 had a negative return on equity of 10.44% and a negative net margin of 18.27%. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, sell-side analysts predict that ON24, Inc. will post -1.39 EPS for the current year.

Several analysts have commented on the company. Piper Sandler downgraded ON24 from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $17.00 in a research note on Tuesday, March 1st. William Blair downgraded ON24 from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 1st. KeyCorp cut their target price on ON24 from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, March 1st. Robert W. Baird cut ON24 from an “outperform” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Tuesday, March 1st. Finally, Needham & Company LLC cut ON24 from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, ON24 has an average rating of “Hold” and a consensus target price of $22.43.

Several institutional investors have recently modified their holdings of ONTF. FNY Investment Advisers LLC purchased a new position in shares of ON24 during the 1st quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of ON24 in the 4th quarter worth $49,000. Ensign Peak Advisors Inc raised its position in shares of ON24 by 4,250.0% in the 1st quarter. Ensign Peak Advisors Inc now owns 4,350 shares of the company’s stock worth $57,000 after buying an additional 4,250 shares during the period. Citigroup Inc. raised its position in shares of ON24 by 453.7% in the 3rd quarter. Citigroup Inc. now owns 3,311 shares of the company’s stock worth $66,000 after buying an additional 2,713 shares during the period. Finally, Royal Bank of Canada raised its position in shares of ON24 by 237.3% in the 3rd quarter. Royal Bank of Canada now owns 3,559 shares of the company’s stock worth $71,000 after buying an additional 2,504 shares during the period. 70.24% of the stock is currently owned by institutional investors.

ON24 Company Profile (Get Rating)

ON24, Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Experience products, such as ON24 Elite, a live and interactive webinar experience; ON24 Breakouts, a live breakout room experience that facilitates networking, collaboration and interactivity between users; ON24 Go Live, a live, interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; ON24 Virtual Confrence, a live and large scale virtual event experience; ON24 Engagement Hub, a rich multimedia content experience; and ON24 Target, a personalized and curated rich multimedia content experience, as well as solutions; ON24 Intelligence, an analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; and ON24 Connect, an ecosystem of third-party application integrations.

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