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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 38,022 shares of the business’s stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $5.79 per share, with a total value of $220,147.38. Following the purchase, the insider now owns 7,659,474 shares of the company’s stock, valued at approximately $44,348,354.46. This trade represents a 0.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large 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 Wednesday, March 12th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The stock was bought at an average cost of $5.75 per share, with a total value of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock purchased 38,022 shares of ON24 stock. The stock was bought 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 shares were bought at an average price 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 purchased at an average price 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, with a total value of $155,519.97.

ON24 Trading Down 1.3 %

Shares of NYSE ONTF opened at $5.51 on Wednesday. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $7.38. The company has a 50-day moving average of $6.33 and a two-hundred day moving average of $6.35. The company has a market cap of $229.29 million, a PE ratio of -5.29 and a beta of 0.55.

Institutional Trading of ON24

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in ON24 by 38.1% in the 4th 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 last quarter. Squarepoint Ops LLC lifted its stake in shares of ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after acquiring an additional 5,713 shares during the period. Wells Fargo & Company MN boosted 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 valued at $112,000 after acquiring an additional 3,518 shares during the last quarter. R Squared Ltd acquired a new stake in ON24 in the fourth quarter worth about $153,000. Finally, FMR LLC raised its holdings in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after purchasing an additional 8,528 shares during the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. William Blair reaffirmed a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on 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.