ON24 (NYSE:ONTF) CRO James Blackie Sells 3,770 Shares

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 3,770 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $5.52, for a total transaction of $20,810.40. Following the completion of the transaction, the executive owned 509,082 shares of the company’s stock, valued at approximately $2,810,132.64. This trade represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 8th, James Blackie sold 3,012 shares of ON24 stock. The shares were sold at an average price of $5.58, for a total transaction of $16,806.96.
• On Thursday, September 4th, James Blackie sold 4,592 shares of ON24 stock. The stock was sold at an average price of $5.52, for a total transaction of $25,347.84.
• On Wednesday, September 3rd, James Blackie sold 2,549 shares of ON24 stock. The stock was sold at an average price of $5.43, for a total transaction of $13,841.07.
• On Tuesday, September 2nd, James Blackie sold 2,314 shares of ON24 stock. The stock was sold at an average price of $5.60, for a total transaction of $12,958.40.
• On Wednesday, August 20th, James Blackie sold 3,283 shares of ON24 stock. The stock was sold at an average price of $5.21, for a total value of $17,104.43.

ON24 Stock Down 1.5%

Shares of ONTF opened at $5.53 on Wednesday. ON24, Inc. has a 12-month low of $4.35 and a 12-month high of $7.03. The business’s fifty day moving average is $5.27 and its 200 day moving average is $5.26. The stock has a market cap of $233.85 million, a P/E ratio of -6.43 and a beta of 0.66.

Institutional Investors Weigh In On ON24

A number of hedge funds have recently made changes to their positions in the business. Lynrock Lake LP increased its holdings in ON24 by 4.5% in the 1st quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after acquiring an additional 329,715 shares during the last quarter. Federated Hermes Inc. increased its holdings in ON24 by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,172,241 shares of the company’s stock worth $6,365,000 after acquiring an additional 4,578 shares during the last quarter. Geode Capital Management LLC increased its holdings in ON24 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock worth $4,629,000 after acquiring an additional 102,396 shares during the last quarter. Acadian Asset Management LLC increased its holdings in ON24 by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock worth $4,590,000 after acquiring an additional 14,851 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in ON24 by 14.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 593,954 shares of the company’s stock worth $3,225,000 after acquiring an additional 74,010 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut ON24 from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.33.

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.