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 firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $5.23, for a total value of $204,995.08. Following the completion of the sale, the insider now owns 3,164,092 shares in the company, valued at approximately $16,548,201.16. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 value of $224,371.80.

ON24 Stock Up 0.3 %

ON24 stock traded up $0.02 during mid-day trading on Tuesday, hitting $5.22. 102,471 shares of the stock were exchanged, compared to its average volume of 141,902. The stock has a market capitalization of $220.72 million, a price-to-earnings ratio of -5.01 and a beta of 0.55. ON24, Inc. has a 12 month low of $5.13 and a 12 month high of $7.29. The firm’s fifty day simple moving average is $6.17 and its two-hundred day simple moving average is $6.32.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ONTF. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research report on Wednesday, February 26th. William Blair restated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th.

Institutional Investors Weigh In On ON24

A number of institutional investors and hedge funds have recently modified their holdings of ONTF. JPMorgan Chase & Co. grew its holdings in ON24 by 43.5% in the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after acquiring an additional 249,045 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in ON24 by 50.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company’s stock worth $2,351,000 after purchasing an additional 122,700 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of ON24 during the 4th quarter worth $777,000. P.A.W. Capital Corp purchased a new stake in ON24 in the fourth quarter worth about $484,000. Finally, Norges Bank purchased a new stake in shares of ON24 in the fourth quarter worth $428,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

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.