ON24, Inc. (NYSE:ONTF) Insider Jayesh Sahasi Sells 1,800 Shares

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 1,800 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $6.00, for a total value of $10,800.00. Following the completion of the sale, the insider now directly owns 754,247 shares of the company’s stock, valued at approximately $4,525,482. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jayesh Sahasi also recently made the following trade(s):

• On Monday, July 1st, Jayesh Sahasi sold 3 shares of ON24 stock. The stock was sold at an average price of $6.00, for a total value of $18.00.
• On Wednesday, June 5th, Jayesh Sahasi sold 3,634 shares of ON24 stock. The shares were sold at an average price of $5.81, for a total value of $21,113.54.
• On Monday, June 3rd, Jayesh Sahasi sold 2,680 shares of ON24 stock. The stock was sold at an average price of $5.78, for a total transaction of $15,490.40.

ON24 Stock Performance

Shares of NYSE ONTF opened at $5.96 on Thursday. ON24, Inc. has a one year low of $5.37 and a one year high of $9.09. The business’s 50-day moving average price is $6.11 and its two-hundred day moving average price is $6.86.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.05). The firm had revenue of $37.73 million during the quarter, compared to the consensus estimate of $37.00 million. ON24 had a negative net margin of 28.35% and a negative return on equity of 19.97%. On average, sell-side analysts predict that ON24, Inc. will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ONTF. Gladius Capital Management LP bought a new position in ON24 during the fourth quarter valued at about $71,000. Public Employees Retirement System of Ohio raised its stake 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 in the last quarter. Quadrature Capital Ltd raised its stake in shares of ON24 by 8.9% in the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after acquiring an additional 2,401 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in ON24 in the 4th quarter worth approximately $375,000. Finally, Quest Partners LLC bought a new stake in ON24 during the fourth quarter worth approximately $440,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Friday, May 17th.

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.