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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 38,022 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $5.75 per share, for a total transaction of $218,626.50. Following the acquisition, the insider now owns 7,583,430 shares of the company’s stock, valued at approximately $43,604,722.50. The trade was a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, March 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was acquired at an average cost of $5.56 per share, for a total transaction of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was acquired at an average cost of $5.81 per share, for a total transaction of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was acquired at an average cost of $5.64 per share, for a total transaction of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock purchased 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 Stock Performance

ON24 stock traded down $0.14 during trading on Thursday, reaching $5.60. 191,688 shares of the company’s stock were exchanged, compared to its average volume of 139,991. The company’s 50-day moving average is $6.39 and its two-hundred day moving average is $6.37. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $7.38. The firm has a market cap of $233.20 million, a price-to-earnings ratio of -5.38 and a beta of 0.55.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ONTF shares. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, William Blair reissued a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th.

Institutional Trading of ON24

A number of institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its position in ON24 by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 1,167,713 shares of the company’s stock worth $7,543,000 after purchasing an additional 18,372 shares during the period. JPMorgan Chase & Co. boosted its position in ON24 by 43.5% during the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after purchasing an additional 249,045 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ON24 by 15.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock worth $3,166,000 after purchasing an additional 66,022 shares during the period. Horrell Capital Management Inc. boosted its position in ON24 by 15.9% during the 4th quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after purchasing an additional 54,000 shares during the period. Finally, Circumference Group LLC boosted its position in ON24 by 15.9% in the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock valued at $2,547,000 after buying an additional 54,000 shares during the last quarter. 83.93% of the stock is owned by hedge funds and other institutional investors.

ON24 Company Profile

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.