James Blackie Sells 15,000 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $6.33, for a total value of $94,950.00. Following the transaction, the executive now directly owns 457,443 shares of the company’s stock, valued at approximately $2,895,614.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 20th, James Blackie sold 3,276 shares of ON24 stock. The shares were sold at an average price of $6.35, for a total value of $20,802.60.

ON24 Stock Performance

NYSE ONTF traded down $0.08 during trading hours on Wednesday, hitting $6.27. 269,499 shares of the company’s stock were exchanged, compared to its average volume of 215,596. The business’s 50 day moving average is $6.76 and its 200-day moving average is $7.17. ON24, Inc. has a 12-month low of $5.73 and a 12-month high of $9.09.

ON24 (NYSE:ONTF) last released its earnings results on Thursday, February 22nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.25). ON24 had a negative return on equity of 19.97% and a negative net margin of 28.35%. The company had revenue of $39.34 million during the quarter, compared to analyst estimates of $37.29 million. During the same period in the prior year, the business posted ($0.23) earnings per share. On average, research analysts predict that ON24, Inc. will post -0.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ONTF shares. Canaccord Genuity Group reduced their target price on shares of ON24 from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Friday, May 17th.

Institutional Investors Weigh In On ON24

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd boosted its position in 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 purchasing an additional 2,401 shares during the period. Acadian Asset Management LLC lifted its stake in shares of ON24 by 856.5% during the first quarter. Acadian Asset Management LLC now owns 469,544 shares of the company’s stock worth $3,351,000 after purchasing an additional 420,455 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ON24 by 2.1% in the first quarter. Vanguard Group Inc. now owns 2,443,583 shares of the company’s stock worth $17,447,000 after buying an additional 49,498 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ON24 in the first quarter valued at about $461,000. Finally, GSA Capital Partners LLP raised its holdings in shares of ON24 by 18.3% during the 1st quarter. GSA Capital Partners LLP now owns 81,771 shares of the company’s stock valued at $584,000 after buying an additional 12,676 shares during the period. 83.93% of the stock is currently 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.