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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 27,921 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $5.64 per share, with a total value of $157,474.44. Following the completion of the transaction, the insider now directly owns 7,413,522 shares of the company’s stock, valued at $41,812,264.08. This represents a 0.38 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 3rd, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The shares were acquired at an average cost of $5.57 per share, for a total transaction of $155,519.97.

ON24 Stock Up 0.8 %

Shares of ON24 stock opened at $5.67 on Thursday. The firm has a market cap of $235.95 million, a PE ratio of -5.45 and a beta of 0.55. ON24, Inc. has a 52 week low of $5.37 and a 52 week high of $7.38. The business’s fifty day simple moving average is $6.49 and its 200-day simple moving average is $6.40.

Wall Street Analyst Weigh In

ONTF has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target 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. William Blair restated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ONTF. SG Americas Securities LLC raised its stake in shares of 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 acquiring an additional 3,891 shares during the period. Squarepoint Ops LLC increased its holdings in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after purchasing an additional 5,713 shares during the last quarter. Wells Fargo & Company MN raised its position 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 purchasing an additional 3,518 shares during the period. Gladius Capital Management LP lifted its stake in ON24 by 151.2% during the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after purchasing an additional 13,755 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of ON24 during the fourth quarter worth $153,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

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.