President and Chief Executive Sharat Sharan of ON24 Inc (NYSE:ONTF) sold 36,844 shares of the company on January 9, 2024, according to a recent SEC filing. The insider completed the transaction at an average price of $6.99 per share, resulting in a total value of $257,511.56.
ON24 Inc is a company that provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinars, virtual event experiences, and multimedia content experiences. The platform is designed to provide users with data-rich insights that can help drive more sales and marketing impact.
Over the past year, the insider has sold a total of 218,735 shares of ON24 Inc and has not made any purchases of the stock. The recent sale by the insider is part of a series of transactions that have taken place over the last twelve months.
The insider transaction history for ON24 Inc shows a pattern of selling activity, with 35 insider sells and no insider buys over the past year.
As of the date of the insider's recent sale, ON24 Inc had a market capitalization of $287.604 million, with shares trading at $6.99 each. This pricing positions the stock below its GuruFocus Value (GF Value) of $9.23, indicating that ON24 Inc is modestly undervalued with a price-to-GF-Value ratio of 0.76.
The GF Value is a proprietary valuation metric used by GuruFocus, which is calculated based on historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, as well as a GuruFocus adjustment factor that accounts for the company's historical returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors and analysts often monitor insider transactions as they can provide insights into the insider's perspective on the value of the company's stock. While the sale of shares by the insider does not necessarily indicate a bearish view on the stock, it does contribute to the overall picture of insider sentiment which currently shows a trend of selling.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
