ON24, Inc. (NYSE:ONTF) Major Shareholder Purchases $220,147.38 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 38,022 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $5.79 per share, for a total transaction of $220,147.38. Following the completion of the acquisition, the insider now directly owns 7,659,474 shares in the company, valued at approximately $44,348,354.46. This represents a 0.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock 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 purchased 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.75 per share, for a total transaction of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock purchased 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.56 per share, for a total transaction of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The stock was purchased at an average price of $5.81 per share, for a total transaction of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was bought at an average price of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was bought at an average price of $5.57 per share, with a total value of $155,519.97.

ON24 Stock Down 1.3 %

Shares of NYSE:ONTF traded down $0.08 during trading on Tuesday, hitting $5.51. 221,546 shares of the stock traded hands, compared to its average volume of 139,258. The company has a market cap of $229.29 million, a price-to-earnings ratio of -5.29 and a beta of 0.55. The company has a fifty day moving average price of $6.36 and a two-hundred day moving average price of $6.36. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $7.38.

Analyst Ratings Changes

ONTF has been the subject of a number of recent analyst reports. William Blair reiterated a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On ON24

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of ON24 by 38.1% during the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock valued at $91,000 after purchasing an additional 3,891 shares in the last quarter. 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 worth $102,000 after acquiring an additional 5,713 shares in the last quarter. Wells Fargo & Company MN increased its holdings in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock worth $112,000 after acquiring an additional 3,518 shares in the last quarter. R Squared Ltd purchased a new stake in ON24 in the 4th quarter worth $153,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in ON24 in the 4th quarter worth $175,000. 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.