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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 38,022 shares of ON24 stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $5.79 per share, with a total value of $220,147.38. Following the completion of the purchase, the insider now directly owns 7,659,474 shares of the company’s stock, valued at approximately $44,348,354.46. The trade was a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 Wednesday, March 12th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.75 per share, with a total value of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.56 per share, with a total value of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average price of $5.81 per share, with a total value of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average price of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average price of $5.57 per share, with a total value of $155,519.97.

ON24 Price Performance

NYSE:ONTF opened at $5.39 on Friday. The stock has a market cap of $227.92 million, a P/E ratio of -5.18 and a beta of 0.55. ON24, Inc. has a one year low of $5.36 and a one year high of $7.38. The company has a fifty day moving average price of $6.29 and a 200 day moving average price of $6.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ONTF. William Blair restated a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price 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.

Institutional Investors Weigh In On ON24

Several institutional investors and hedge funds have recently bought and sold shares of ONTF. SG Americas Securities LLC increased its holdings 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 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 buying an additional 5,713 shares during the period. 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 valued at $112,000 after buying an additional 3,518 shares during the period. R Squared Ltd bought a new stake in ON24 in the 4th quarter valued at $153,000. Finally, FMR LLC increased its holdings in ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after buying an additional 8,528 shares during the period. Institutional investors 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.