Jayesh Sahasi Sells 6,457 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) insider Jayesh Sahasi sold 6,457 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $6.69, for a total transaction of $43,197.33. Following the completion of the sale, the insider now owns 700,479 shares in the company, valued at approximately $4,686,204.51. The trade was a 0.91 % decrease in their ownership of the stock. 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 Monday, December 2nd, Jayesh Sahasi sold 3,656 shares of ON24 stock. The shares were sold at an average price of $6.63, for a total transaction of $24,239.28.
• On Wednesday, November 20th, Jayesh Sahasi sold 4,089 shares of ON24 stock. The shares were sold at an average price of $6.29, for a total transaction of $25,719.81.
• On Monday, September 9th, Jayesh Sahasi sold 1,941 shares of ON24 stock. The shares were sold at an average price of $5.91, for a total transaction of $11,471.31.
• On Thursday, September 5th, Jayesh Sahasi sold 2,285 shares of ON24 stock. The shares were sold at an average price of $6.16, for a total transaction of $14,075.60.

ON24 Price Performance

NYSE:ONTF opened at $6.57 on Friday. The firm’s 50 day simple moving average is $6.31 and its 200 day simple moving average is $6.16. ON24, Inc. has a one year low of $5.37 and a one year high of $8.35. The company has a market cap of $273.65 million, a PE ratio of -6.32 and a beta of 0.51.

Institutional Investors Weigh In On ON24

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in ON24 during the 3rd quarter worth approximately $62,000. Marshall Wace LLP bought a new position in ON24 during the 2nd quarter worth approximately $72,000. The Manufacturers Life Insurance Company raised its holdings in ON24 by 19.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,477 shares of the company’s stock worth $81,000 after purchasing an additional 2,158 shares during the last quarter. Gladius Capital Management LP raised its holdings in ON24 by 151.2% during the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after purchasing an additional 13,755 shares during the last quarter. Finally, FMR LLC raised its holdings in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after purchasing an additional 8,528 shares during the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Friday, November 8th.

ON24 Company Profile

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.