Jayesh Sahasi Sells 35,564 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 35,564 shares of ON24 stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $5.48, for a total value of $194,890.72. Following the sale, the insider now owns 644,989 shares of the company’s stock, valued at approximately $3,534,539.72. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Jayesh Sahasi also recently made the following trade(s):

• On Thursday, March 20th, Jayesh Sahasi sold 3,696 shares of ON24 stock. The stock was sold at an average price of $5.41, for a total value of $19,995.36.
• On Thursday, February 20th, Jayesh Sahasi sold 3,315 shares of ON24 stock. The stock was sold at an average price of $6.38, for a total value of $21,149.70.
• On Monday, February 10th, Jayesh Sahasi sold 1,637 shares of ON24 stock. The stock was sold at an average price of $6.85, for a total value of $11,213.45.

ON24 Price Performance

NYSE ONTF opened at $5.50 on Friday. The firm has a market capitalization of $232.66 million, a P/E ratio of -5.29 and a beta of 0.55. ON24, Inc. has a 1-year low of $5.22 and a 1-year high of $7.38. The business’s 50-day simple moving average is $6.27 and its 200-day simple moving average is $6.33.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ON24

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after purchasing an additional 5,713 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after purchasing an additional 3,518 shares in the last quarter. R Squared Ltd acquired a new position in shares of ON24 in the 4th quarter valued at about $153,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ON24 in the 4th quarter valued at about $175,000. 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.