James Blackie Sells 4,376 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 4,376 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $27,787.60. Following the transaction, the executive now directly owns 437,161 shares in the company, valued at $2,775,972.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ON24 Trading Down 3.9 %

Shares of NYSE ONTF opened at $5.91 on Friday. The stock has a market cap of $247.42 million, a PE ratio of -5.68 and a beta of 0.47. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $8.35. The company has a 50-day moving average of $6.21 and a 200 day moving average of $6.42.

ON24 (NYSE:ONTF) last issued its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). ON24 had a negative return on equity of 21.81% and a negative net margin of 28.14%. The company had revenue of $37.35 million for the quarter, compared to analyst estimates of $36.31 million. On average, sell-side analysts forecast that ON24, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th.

Institutional Trading of ON24

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new stake in shares of ON24 in the fourth quarter valued at about $71,000. Marshall Wace LLP purchased a new stake in shares of ON24 in the 2nd quarter valued at approximately $72,000. The Manufacturers Life Insurance Company raised its position in shares of ON24 by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after buying an additional 2,158 shares during the period. Quadrature Capital Ltd lifted its holdings in 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 acquiring an additional 2,401 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in ON24 in the fourth quarter worth approximately $375,000. 83.93% of the stock is owned by institutional investors and hedge funds.

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.