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Jayesh Sahasi, Executive Vice President, Product and CTO of ON24 Inc. (NYSE:ONTF), recently sold a significant portion of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Sahasi sold a total of 110,577 shares over three consecutive days, amounting to approximately $606,522. The sale comes as ON24, with a market capitalization of $228 million, trades near its 52-week low of $5.36. InvestingPro analysis indicates the stock is currently undervalued, despite maintaining a strong balance sheet with more cash than debt.
The transactions took place between March 18 and March 20, with shares sold at prices ranging from $5.4137 to $5.4915. Following these sales, Sahasi retains ownership of 569,976 shares in the company. These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which had been modified in December 2024. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access the full ON24 Research Report, one of 1,400+ detailed company analyses available on the platform.
In other recent news, ON24 Inc. reported its fourth-quarter 2024 earnings, exceeding expectations with an earnings per share (EPS) of $0.06, significantly higher than the anticipated $0.01. The company’s revenue also surpassed projections, reaching $36.7 million compared to the forecasted $35.87 million. These results highlight ON24’s positive financial performance and operational efficiency, despite a challenging marketing environment. The company credited innovations like the AI-powered ACE platform for driving significant growth in annual recurring revenue (ARR) bookings. ON24’s annual ARR stood at $127.3 million, reflecting a 6% year-over-year decline. However, the company remains optimistic about reversing this trend in 2025. Additionally, ON24’s strategic direction received a positive nod from analysts, with JPMorgan noting the company’s resilience and potential for future growth. The firm is also focusing on platform innovation and enhanced go-to-market strategies to bolster its position in regulated industries.
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