ON24 (NYSE:ONTF) Shares Up 0.2% – Here’s Why

ON24, Inc. (NYSE:ONTF)’s stock price rose 0.2% during trading on Tuesday . The company traded as high as $8.00 and last traded at $7.9850. Approximately 257,123 shares traded hands during trading, a decline of 55% from the average daily volume of 565,675 shares. The stock had previously closed at $7.97.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research report on Friday, January 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. Canaccord Genuity Group boosted their price target on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $7.40.

ON24 Stock Performance

The company has a market cap of $337.62 million, a price-to-earnings ratio of -10.79 and a beta of 0.61. The firm’s 50 day simple moving average is $6.68 and its 200-day simple moving average is $5.86.

ON24 (NYSE:ONTF) last released its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. The business had revenue of $34.60 million for the quarter, compared to analyst estimates of $33.87 million. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. As a group, sell-side analysts expect that ON24, Inc. will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling at ON24

In other news, insider Jayesh Sahasi sold 34,753 shares of the stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $7.98, for a total value of $277,328.94. Following the sale, the insider directly owned 672,527 shares in the company, valued at approximately $5,366,765.46. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sharat Sharan sold 50,332 shares of ON24 stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $7.97, for a total value of $401,146.04. Following the completion of the transaction, the insider owned 3,622,559 shares of the company’s stock, valued at approximately $28,871,795.23. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 338,716 shares of company stock valued at $2,327,474 in the last 90 days. Corporate insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On ON24

A number of hedge funds have recently bought and sold shares of ONTF. Public Employees Retirement System of Ohio boosted its stake in shares of ON24 by 22.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock valued at $85,000 after buying an additional 2,700 shares during the period. Nisa Investment Advisors LLC raised its holdings in ON24 by 139.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock valued at $39,000 after acquiring an additional 2,825 shares in the last quarter. AQR Capital Management LLC lifted its stake in ON24 by 15.9% in the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after acquiring an additional 2,989 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ON24 by 24.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,487 shares of the company’s stock worth $111,000 after acquiring an additional 4,004 shares in the last quarter. Finally, Prelude Capital Management LLC increased its position in shares of ON24 by 33.9% in the 3rd quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock valued at $97,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

About ON24

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.