ON24, Inc. (NYSE:ONTF) Major Shareholder Buys $218,626.50 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 38,022 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $5.75 per share, for a total transaction of $218,626.50. Following the purchase, the insider now owns 7,583,430 shares in the company, valued at approximately $43,604,722.50. This represents a 0.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 Monday, March 10th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The stock was bought at an average price 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 bought at an average price of $5.81 per share, for a total transaction of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were acquired at an average price of $5.64 per share, for a total transaction of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were acquired at an average price of $5.57 per share, for a total transaction of $155,519.97.

ON24 Stock Performance

Shares of ONTF traded down $0.14 during mid-day trading on Thursday, reaching $5.60. 191,688 shares of the company’s stock traded hands, compared to its average volume of 139,991. The business’s 50-day moving average price is $6.39 and its 200-day moving average price is $6.37. The stock has a market capitalization of $233.20 million, a P/E ratio of -5.38 and a beta of 0.55. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $7.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in shares of ON24 by 38.1% during the fourth 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 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 increased its stake in shares of ON24 by 25.6% during 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 period. Gladius Capital Management LP increased its stake in shares of ON24 by 151.2% during the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after acquiring an additional 13,755 shares during the period. Finally, R Squared Ltd acquired a new position in shares of ON24 during the fourth quarter valued at approximately $153,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Analyst Ratings Changes

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