Taking a look at what insiders are doing to gauge the ON24 Inc. (ONTF)’s direction


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ON24 Inc. shares valued at $19,816 were sold by Vattuone Steven on Oct 18. At $9.01 per share, Vattuone Steven sold 2,200 shares. The insider’s holdings dropped to 260,321 shares worth approximately $2.1 million following the completion of this transaction.

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Also, Blackie James sold 2,816 shares, netting a total of over 27,386 in proceeds. Following the sale of shares at $9.73 each, the insider now holds 212,001 shares.

Before that, Vattuone Steven had sold 2,655 shares from its account. In a trade valued at $25,820, the Chief Financial Officer traded ON24 Inc. shares for $9.73 each. Upon closing the transaction, the insider’s holdings decreased to 2,655 shares, worth approximately $2.12 million.

As published in their initiating research note from KeyBanc Capital Markets on September 13, 2022, ON24 Inc. [ONTF] has been a Sector weight. Analysts at Needham downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. As of March 01, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for ONTF. Earlier on March 01, 2022, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for ONTF stock which previously was a “an Outperform”.

Analyzing ONTF Stock Performance

On Thursday, ON24 Inc. [NYSE: ONTF] rose 3.20% to $8.07. The stock’s lowest price that day was $7.40, but it reached a high of $8.08 in the same session. During the last five days, there has been a drop of approximately -18.81%. Over the course of the year, ON24 Inc. shares have dropped approximately -6.49%. Shares of the company reached a 52-week high of $11.20 on 02/09/23 and a 52-week low of $7.40 on 03/02/23. A 50-day SMA is recorded $9.09, while a 200-day SMA reached $9.34. Nevertheless, trading volume fell to 0.51 million shares from 0.26 million shares the previous day.

Support And Resistance Levels for ON24 Inc. (ONTF)

According to the 24-hour chart, there is a support level at 7.62, which, if violated, would cause prices to drop to 7.17. In the upper region, resistance lies at 8.30. The next price resistance is at 8.53. RSI (Relative Strength Index) is 32.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.14, which suggests the price will decrease in the coming days. Percent R is at 78.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is ON24 Inc. subject to short interest?

Stocks of ON24 Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by 26060.0 shares to 0.79 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 0.82 million shares. A decline of -3.28% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.08 of the overall float, the days-to-cover ratio (short ratio) decline to 2.08.

Which companies own the most shares of ON24 Inc. (ONTF)?

According to Lynrock Lake LP filings, the company currently owns 7,329,759 shares, which is about 15.26% of the total ONTF shares outstanding. BlackRock Fund Advisors acquire a 31.68% interest valued at $24.69 million while Greenhouse Funds LLLP purchased a 406,972 stake. A total of -664,821 shares of ON24 Inc. were bought by The Vanguard Group, Inc. during the quarter, and 0 by Hawk Ridge Capital Management LP. In its current portfolio, Russell Investment Management LLC holds 1,613,665 shares valued at $14.97 million.

In terms of ON24 Inc. share price expectations, FactSet research, analysts set an average price target of $9.50 in the next 12 months, up nearly 21.48% from the previous closing price of $7.82. Analysts anticipate ON24 Inc. stock to reach $11.00 by 2023, with the lowest price target being $8.00. In spite of this, 7 analysts ranked ON24 Inc. stock as a Hold at the end of 2023. On March 01, 2022, Piper Sandler assigned a price target of “a Neutral” to the stock and downgraded coverage with a $17.


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