Lake Lp Lynrock Buys 38,022 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock acquired 38,022 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $5.56 per share, with a total value of $211,402.32. Following the completion of the transaction, the insider now owns 7,507,386 shares of the company’s stock, valued at $41,741,066.16. This trade represents a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Friday, March 7th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The shares were 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 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 bought 27,921 shares of ON24 stock. The shares were bought at an average price of $5.57 per share, for a total transaction of $155,519.97.

ON24 Price Performance

Shares of ON24 stock traded down $0.23 during trading hours on Monday, hitting $5.52. 210,857 shares of the company’s stock traded hands, compared to its average volume of 139,993. The stock has a market capitalization of $229.71 million, a price-to-earnings ratio of -5.30 and a beta of 0.55. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $7.38. The company has a fifty day simple moving average of $6.44 and a 200-day simple moving average of $6.39.

Institutional Investors Weigh In On ON24

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after purchasing an additional 3,891 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of 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 acquiring an additional 5,713 shares during the last quarter. Wells Fargo & Company MN grew its holdings 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 worth $112,000 after purchasing an additional 3,518 shares in the last quarter. Gladius Capital Management LP increased its position in shares of ON24 by 151.2% in the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after purchasing an additional 13,755 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in ON24 in the fourth quarter valued at approximately $153,000. 83.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ONTF shares. JPMorgan Chase & Co. decreased their price target 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. William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated 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.