ON24, Inc. (NYSE:ONTF) Insider Jayesh Sahasi Sells 3,696 Shares of Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 3,696 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $5.41, for a total transaction of $19,995.36. Following the transaction, the insider now directly owns 569,976 shares in the company, valued at $3,083,570.16. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, March 18th, Jayesh Sahasi sold 35,564 shares of ON24 stock. The shares were sold at an average price of $5.48, for a total transaction of $194,890.72.
• On Thursday, February 20th, Jayesh Sahasi sold 3,315 shares of ON24 stock. The shares were sold at an average price of $6.38, for a total value of $21,149.70.
• On Monday, February 10th, Jayesh Sahasi sold 1,637 shares of ON24 stock. The stock was sold at an average price of $6.85, for a total value of $11,213.45.

ON24 Stock Performance

Shares of ONTF opened at $5.39 on Friday. The firm has a market cap of $227.92 million, a P/E ratio of -5.18 and a beta of 0.55. ON24, Inc. has a fifty-two week low of $5.36 and a fifty-two week high of $7.38. The business has a 50-day moving average of $6.29 and a 200 day moving average of $6.34.

Analyst Upgrades and Downgrades

ONTF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. William Blair reissued a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a report on Wednesday, February 26th.

Institutional Trading of ON24

Several hedge funds and other institutional investors have recently modified their holdings of ONTF. SG Americas Securities LLC boosted its holdings in ON24 by 38.1% in the 4th 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 during the period. Squarepoint Ops LLC grew its holdings in ON24 by 56.6% during the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN increased its position 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 valued at $112,000 after buying an additional 3,518 shares during the period. R Squared Ltd bought a new position in shares of ON24 in the fourth quarter valued at approximately $153,000. Finally, FMR LLC grew its stake in ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after acquiring an additional 8,528 shares in the last quarter. Institutional investors own 83.93% of the company’s stock.

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.