James Blackie Sells 3,276 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 3,276 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $6.35, for a total value of $20,802.60. Following the completion of the transaction, the executive now directly owns 457,443 shares of the company’s stock, valued at $2,904,763.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, May 22nd, James Blackie sold 15,000 shares of ON24 stock. The shares were sold at an average price of $6.33, for a total value of $94,950.00.

ON24 Trading Down 1.3 %

Shares of ONTF stock traded down $0.08 during trading hours on Wednesday, reaching $6.27. 269,499 shares of the company’s stock were exchanged, compared to its average volume of 215,596. ON24, Inc. has a 1 year low of $5.73 and a 1 year high of $9.09. The stock has a market cap of $262.52 million, a PE ratio of -6.03 and a beta of 0.49. The stock’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $7.17.

ON24 (NYSE:ONTF) last released its earnings results on Thursday, February 22nd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.25). ON24 had a negative return on equity of 19.97% and a negative net margin of 28.35%. The company had revenue of $39.34 million during the quarter, compared to analyst estimates of $37.29 million. During the same quarter last year, the business earned ($0.23) earnings per share. On average, equities analysts expect that ON24, Inc. will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On ON24

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its holdings in shares of ON24 by 8.9% in the first quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after purchasing an additional 2,401 shares during the period. Brandywine Global Investment Management LLC increased its holdings in ON24 by 2.0% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 260,700 shares of the company’s stock worth $1,650,000 after buying an additional 5,100 shares during the period. Allspring Global Investments Holdings LLC raised its position in ON24 by 62.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,673 shares of the company’s stock worth $87,000 after buying an additional 5,258 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of ON24 by 124.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 15,528 shares of the company’s stock valued at $122,000 after acquiring an additional 8,600 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new stake in shares of ON24 in the fourth quarter worth $71,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ONTF shares. Needham & Company LLC restated a “hold” rating on shares of ON24 in a report on Friday, May 17th. Canaccord Genuity Group cut their price target on shares of ON24 from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, February 23rd.

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.