ON24, Inc. (NYSE:ONTF) Major Shareholder Lake Lp Lynrock Buys 38,022 Shares of Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock acquired 38,022 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $5.56 per share, with a total value of $211,402.32. Following the acquisition, the insider now owns 7,507,386 shares of the company’s stock, valued at approximately $41,741,066.16. This trade represents a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, March 7th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The stock was acquired at an average cost of $5.81 per share, with a total value of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was acquired at an average price of $5.64 per share, for a total transaction of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The shares were acquired at an average price of $5.57 per share, with a total value of $155,519.97.

ON24 Trading Down 3.9 %

ONTF opened at $5.52 on Tuesday. The stock has a fifty day moving average price of $6.44 and a 200 day moving average price of $6.39. ON24, Inc. has a 1 year low of $5.37 and a 1 year high of $7.38. The stock has a market cap of $229.71 million, a price-to-earnings ratio of -5.30 and a beta of 0.55.

Institutional Investors Weigh In On ON24

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased 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 buying an additional 3,891 shares during the last quarter. Squarepoint Ops LLC grew its position 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 acquiring an additional 5,713 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of ON24 by 25.6% during the 4th 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 last quarter. Gladius Capital Management LP raised its holdings in shares of 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 acquired a new stake in shares of ON24 in the 4th quarter valued at $153,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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