James Blackie Sells 1,901 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) CRO James Blackie sold 1,901 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $5.91, for a total transaction of $11,234.91. Following the completion of the sale, the executive now directly owns 427,176 shares in the company, valued at approximately $2,524,610.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, September 5th, James Blackie sold 2,238 shares of ON24 stock. The shares were sold at an average price of $6.16, for a total value of $13,786.08.
• On Tuesday, September 3rd, James Blackie sold 4,376 shares of ON24 stock. The stock was sold at an average price of $6.35, for a total value of $27,787.60.

ON24 Stock Performance

ONTF traded down $0.07 during trading on Monday, hitting $5.84. 115,632 shares of the stock were exchanged, compared to its average volume of 191,159. The firm has a 50 day simple moving average of $6.21 and a 200 day simple moving average of $6.39. The firm has a market cap of $242.54 million, a price-to-earnings ratio of -5.62 and a beta of 0.47. ON24, Inc. has a 1 year low of $5.37 and a 1 year high of $8.35.

ON24 (NYSE:ONTF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $37.35 million for the quarter, compared to analysts’ expectations of $36.31 million. As a group, equities analysts anticipate that ON24, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ON24

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new position in ON24 during the second quarter valued at approximately $72,000. The Manufacturers Life Insurance Company lifted its position in shares of ON24 by 19.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock valued at $81,000 after buying an additional 2,158 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of ON24 by 8.9% in the 1st quarter. Quadrature Capital Ltd now owns 29,353 shares of the company’s stock valued at $209,000 after buying an additional 2,401 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of ON24 during the 4th quarter worth approximately $375,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of ON24 by 8.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,690 shares of the company’s stock worth $395,000 after acquiring an additional 5,337 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ONTF. JPMorgan Chase & Co. cut their price objective on ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

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.