ON24 Inc (ONTF) Executive Jayesh Sahasi Sells 20,151 Shares
ON24 Inc (NYSE:ONTF), a company specializing in webinar-based marketing solutions and virtual event technology, has reported an insider sale according to a recent SEC filing. Jayesh Sahasi, the President, Product and Chief Technology Officer of ON24 Inc, sold 20,151 shares of the company on February 26, 2024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this SEC Filing.
Over the past year, the insider has sold a total of 50,789 shares of ON24 Inc and has not made any purchases of the stock. The insider transaction history for ON24 Inc shows a pattern of sales by insiders, with a total of 45 insider sells and no insider buys over the past year.
On the date of the insider's recent sale, shares of ON24 Inc were trading at $7.11 each, giving the company a market capitalization of $288.434 million. The stock's price on the day of the transaction reflects a market valuation below the $1 billion threshold.
According to the GuruFocus Value chart, ON24 Inc has a price-to-GF-Value ratio of 0.84, indicating that the stock is Modestly Undervalued. The GF Value of $8.50 suggests a potential undervaluation of the company's shares relative to the intrinsic value estimate developed by GuruFocus.
The GF Value is determined by considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow. It also includes a GuruFocus adjustment factor based on the company's historical returns and growth, as well as future business performance estimates provided by Morningstar analysts.
This insider sale may be of interest to investors tracking insider behaviors as an indicator of company performance and valuation. However, it is important to consider the broader context of the market and the company's financial health when interpreting insider transactions.
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.
This article first appeared on GuruFocus.
