ON24, Inc. Director Sells Shares Worth $27,200

Director Dominique Trempont of ON24, Inc. (NYSE: ONTF) sold 4,250 shares of the company's stock in a transaction that took place on Wednesday, January 15th. The shares were sold at an average price of $6.40, resulting in a total transaction value of $27,200.

After this sale, Trempont retains direct ownership of 258,850 shares in ON24, which are currently valued at about $1,656,640. This transaction marks a 1.62% decrease in the director's stake in the company. The details of the sale were disclosed in a filing with the Securities and Exchange Commission.

Additional Recent Trades by Trempont

In addition to the recent sale, Dominique Trempont made another noteworthy sale on Thursday, December 12th, where 4,250 shares of ON24 were sold at an average price of $6.98. This earlier transaction had a total value of $29,665.

Current Stock Performance

As for ON24's stock performance, shares traded slightly lower, down by 0.4%, equating to a drop of $0.03 during midday trading on Friday, bringing the stock price to $6.42. The trading volume reached 125,109 shares, surpassing the average volume of 103,374 shares. The stock's fifty-day moving average stands at $6.56, while the 200-day moving average is at $6.32. Over the past year, the stock has experienced a low of $5.37 and a high of $8.35. ON24 holds a market capitalization of approximately $267.56 million, a negative PE ratio of -6.18, and a beta of 0.50.

Analyst Recommendations and Price Targets

Furthermore, analysts at Needham & Company LLC have reiterated a “hold” rating on ON24's shares in a research note released on Wednesday.

Institutional Investor Activity

Recent activity among institutional investors has shown a mix of buying and selling for ON24 shares. For instance, SG Americas Securities LLC established a new position valued at about $62,000 during the third quarter. In the second quarter, Marshall Wace LLP acquired a new stake valued at $72,000. Notably, The Manufacturers Life Insurance Company increased its holdings in ON24 by 19.1% during the second quarter and now owns 13,477 shares after buying an additional 2,158 shares.

Additionally, Gladius Capital Management LP raised its shareholding by 151.2% during the third quarter, now holding 22,854 shares worth $140,000. Finally, FMR LLC augmented its stake in ON24 by 45.0% in the third quarter, bringing its total holdings to 27,483 shares valued at approximately $168,000. Institutional investors collectively hold 83.93% of ON24's stock.

About ON24

ON24, Inc. offers a cloud-based engagement platform aimed at helping businesses turn customer engagement into revenue. The firm specializes in providing experiences through interactive webinars, virtual events, and multimedia content globally. Their product lineup includes ON24 Elite for live webinars, ON24 Breakouts for networking experiences, ON24 Forums which allow video interactions, ON24 Go Live for real-time engagement, and ON24 Virtual Conference for large managed virtual events.

Conclusion

For investors considering ON24, recent trading activities and analyst sentiments may provide valuable insights into the stock's potential future performance.

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