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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 38,022 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $5.79 per share, for a total transaction of $220,147.38. Following the acquisition, the insider now owns 7,659,474 shares in the company, valued at $44,348,354.46. The trade was a 0.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% 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 purchased at an average cost of $5.75 per share, for a total transaction of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The stock was purchased at an average cost of $5.56 per share, for a total transaction of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was purchased at an average cost 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 purchased at an average cost 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 stock was purchased at an average cost of $5.57 per share, for a total transaction of $155,519.97.

ON24 Stock Down 2.1 %

Shares of NYSE:ONTF opened at $5.39 on Friday. ON24, Inc. has a 12 month low of $5.36 and a 12 month high of $7.38. The company’s 50-day moving average price is $6.29 and its two-hundred day moving average price is $6.34. The firm has a market cap of $227.92 million, a P/E ratio of -5.18 and a beta of 0.55.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in 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 during the period. Squarepoint Ops LLC lifted its position in ON24 by 56.6% during 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 period. Wells Fargo & Company MN lifted its position in ON24 by 25.6% during the 4th 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. R Squared Ltd acquired a new position in ON24 during the 4th quarter valued at about $153,000. Finally, FMR LLC lifted its position in ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after purchasing an additional 8,528 shares during the period. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on ONTF shares. William Blair reissued a “market perform” rating on shares of ON24 in a report 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 on the stock in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Wednesday, February 26th.

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.