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Sharan Sharat, the President and Chief Executive of ON24 Inc. (NYSE:ONTF), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Sharat sold 39,196 shares of common stock on March 31, 2025, at a weighted average price of approximately $5.23 per share. The total value of the transaction was $205,187. The sale comes as ON24’s stock, currently trading at $5.21, sits near its 52-week low of $5.14, having declined nearly 8% in the past week. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt.
The sale was conducted under a Rule 10b5-1 trading plan, which Sharat adopted on December 12, 2024. This plan allows company insiders to set up a predetermined schedule for selling stocks, thereby helping to avoid potential conflicts of interest.
Following this transaction, Sharat continues to hold 3,164,092 shares of ON24 common stock. The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units. The transaction involved multiple trades, with prices ranging from $5.16 to $5.29 per share.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.06, significantly higher than the forecasted $0.01. The company’s revenue also exceeded projections, reaching $36.7 million compared to the anticipated $35.87 million. This positive performance was attributed in part to the launch of the AI-powered ACE platform, which has contributed significantly to growth. ON24’s annual recurring revenue (ARR) stood at $127.3 million, reflecting a 6% decline year-over-year. Despite this, the company remains optimistic about returning to ARR growth in 2025, with projected increases of 1-2%. Additionally, ON24 has provided a full-year 2025 revenue guidance between $136.3 million and $139.3 million. Analyst firms have taken note of ON24’s strategic direction, with expectations for continued growth and profitability improvements. The company has also announced a new $25 million share repurchase program, reflecting confidence in its financial health.
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