Insider Buying: ON24, Inc. (NYSE:ONTF) Major Shareholder Purchases $157,474.44 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock acquired 27,921 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $5.64 per share, for a total transaction of $157,474.44. Following the acquisition, the insider now owns 7,413,522 shares of the company’s stock, valued at approximately $41,812,264.08. This trade represents a 0.38 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lake Lp Lynrock also recently made the following trade(s):

• On Monday, March 3rd, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The shares were bought at an average price of $5.57 per share, for a total transaction of $155,519.97.

ON24 Price Performance

ONTF opened at $5.75 on Friday. ON24, Inc. has a one year low of $5.37 and a one year high of $7.38. The business has a 50 day simple moving average of $6.47 and a two-hundred day simple moving average of $6.39. The firm has a market capitalization of $239.28 million, a price-to-earnings ratio of -5.52 and a beta of 0.55.

Hedge Funds Weigh In On ON24

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in ON24 by 48.7% in the third quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after acquiring an additional 33,352 shares in the last quarter. Jane Street Group LLC raised its holdings in ON24 by 91.2% in the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock worth $374,000 after purchasing an additional 29,148 shares in the last quarter. P.A.W. Capital Corp purchased a new stake in shares of ON24 in the 4th quarter worth about $484,000. FMR LLC boosted its stake in shares of ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after purchasing an additional 8,528 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of ON24 by 38.1% during the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after buying an additional 3,891 shares during the period. 83.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ONTF. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research report on Wednesday, February 26th. William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th.

About ON24

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.