ON24, Inc. (NYSE:ONTF – Get Free Report) insider Sharat Sharan sold 37,965 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $6.22, for a total transaction of $236,142.30. Following the completion of the transaction, the insider now directly owns 3,087,478 shares of the company’s stock, valued at approximately $19,204,113.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ON24 Stock Up 2.5 %
Shares of ONTF stock opened at $6.22 on Friday. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $8.35. The firm has a 50-day moving average price of $6.23 and a 200 day moving average price of $6.34. The company has a market capitalization of $260.40 million, a P/E ratio of -5.98 and a beta of 0.47.
ON24 (NYSE:ONTF – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. The business had revenue of $37.35 million during the quarter, compared to the consensus estimate of $36.31 million. As a group, research analysts expect that ON24, Inc. will post -0.73 earnings per share for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on ON24
Institutional Investors Weigh In On ON24
Several hedge funds and other institutional investors have recently made changes to their positions in ONTF. Marshall Wace LLP bought a new position in ON24 in the second quarter valued at about $72,000. The Manufacturers Life Insurance Company boosted its stake in shares of ON24 by 19.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after purchasing an additional 2,158 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of ON24 by 8.9% during the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock worth $209,000 after buying an additional 2,401 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of ON24 by 8.8% during the second quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after buying an additional 5,337 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in ON24 in the second quarter valued at approximately $427,000. 83.93% of the stock is owned by institutional investors and hedge funds.
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.
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