Sharat Sharan Sells 39,196 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Sharat Sharan sold 39,196 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $5.23, for a total transaction of $204,995.08. Following the completion of the sale, the insider now owns 3,164,092 shares in the company, valued at $16,548,201.16. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sharat Sharan also recently made the following trade(s):

• On Monday, January 13th, Sharat Sharan sold 36,189 shares of ON24 stock. The shares were sold at an average price of $6.20, for a total transaction of $224,371.80.

ON24 Price Performance

ONTF opened at $5.24 on Thursday. The stock has a market capitalization of $221.78 million, a P/E ratio of -5.04 and a beta of 0.55. The company’s 50 day simple moving average is $6.12 and its 200-day simple moving average is $6.30. ON24, Inc. has a one year low of $5.14 and a one year high of $7.29.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONTF. Federated Hermes Inc. boosted its holdings in ON24 by 1.6% in the fourth quarter. Federated Hermes Inc. now owns 1,167,713 shares of the company’s stock valued at $7,543,000 after acquiring an additional 18,372 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ON24 by 43.5% in the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock valued at $5,307,000 after purchasing an additional 249,045 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of ON24 by 15.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock valued at $3,166,000 after purchasing an additional 66,022 shares during the last quarter. Horrell Capital Management Inc. grew its position in shares of ON24 by 15.9% during the 4th quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after buying an additional 54,000 shares during the period. Finally, Circumference Group LLC raised its stake in shares of ON24 by 15.9% during the fourth quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock worth $2,547,000 after buying an additional 54,000 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.