ON24, Inc. (NYSE:ONTF) Major Shareholder Lake Lp Lynrock Acquires 27,921 Shares

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock acquired 27,921 shares of the company’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $5.81 per share, with a total value of $162,221.01. Following the acquisition, the insider now owns 7,469,364 shares in the company, valued at approximately $43,397,004.84. This trade represents a 0.38 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% 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 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was acquired at an average price of $5.56 per share, with a total value of $211,402.32.
• On Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were purchased at an average cost of $5.64 per share, for a total transaction of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were purchased at an average cost of $5.57 per share, for a total transaction of $155,519.97.

ON24 Trading Down 3.9 %

ONTF traded down $0.23 during midday trading on Monday, reaching $5.52. The company’s stock had a trading volume of 210,857 shares, compared to its average volume of 139,993. The firm has a market capitalization of $229.71 million, a price-to-earnings ratio of -5.30 and a beta of 0.55. ON24, Inc. has a 1 year low of $5.37 and a 1 year high of $7.38. The stock’s 50-day moving average is $6.44 and its 200-day moving average is $6.39.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On ON24

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in ON24 by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after purchasing an additional 3,891 shares during the period. Squarepoint Ops LLC grew its holdings in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after purchasing an additional 5,713 shares during the period. Wells Fargo & Company MN grew its holdings in ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after purchasing an additional 3,518 shares during the period. Gladius Capital Management LP increased its stake in ON24 by 151.2% during the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after purchasing an additional 13,755 shares in the last quarter. Finally, R Squared Ltd bought a new stake in ON24 during the 4th quarter valued at about $153,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

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.