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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 27,921 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $5.57 per share, with a total value of $155,519.97. Following the completion of the acquisition, the insider now directly owns 7,357,680 shares of the company’s stock, valued at approximately $40,982,277.60. This represents a 0.38 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Wednesday, March 5th, Lake Lp Lynrock bought 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.

ON24 Stock Up 0.8 %

ONTF opened at $5.67 on Thursday. ON24, Inc. has a twelve month low of $5.37 and a twelve month high of $7.38. The company has a fifty day moving average of $6.49 and a 200-day moving average of $6.40. The stock has a market cap of $235.95 million, a PE ratio of -5.45 and a beta of 0.55.

Institutional Investors Weigh In On ON24

Several institutional investors and hedge funds have recently made changes to their positions in ONTF. SG Americas Securities LLC lifted its stake in ON24 by 38.1% in the fourth 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 stake in shares of 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 acquiring an additional 5,713 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of 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 acquiring an additional 3,518 shares during the period. Gladius Capital Management LP boosted 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 acquiring an additional 13,755 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in ON24 in the fourth quarter worth $153,000. Institutional investors own 83.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ONTF. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, William Blair reissued a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th.

About ON24

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.