Lake Lp Lynrock Buys 27,921 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock acquired 27,921 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $5.64 per share, for a total transaction of $157,474.44. Following the transaction, the insider now directly owns 7,413,522 shares of the company's stock, valued at $41,812,264.08. 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 the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Lake Lp Lynrock also recently made the following trade(s):

• On Monday, March 3rd, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The shares were purchased at an average price of $5.57 per share, for a total transaction of $155,519.97.

ON24 Stock Performance

Shares of ONTF traded up $0.01 during trading hours on Friday, hitting $5.75. The company had a trading volume of 180,187 shares, compared to its average volume of 118,536. The stock has a market capitalization of $239.28 million, a price-to-earnings ratio of -5.52 and a beta of 0.55. The firm has a fifty day moving average price of $6.46 and a 200-day moving average price of $6.39. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $7.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in ON24 by 43.5% during the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company's stock valued at $5,307,000 after acquiring an additional 249,045 shares during the period. Bridgeway Capital Management LLC raised its stake in ON24 by 50.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company's stock worth $2,351,000 after acquiring an additional 122,700 shares during the period. BNP Paribas Financial Markets bought a new stake in ON24 during the 4th quarter worth approximately $777,000. P.A.W. Capital Corp bought a new stake in ON24 during the 4th quarter worth approximately $484,000. Finally, Norges Bank bought a new stake in ON24 during the 4th quarter worth approximately $428,000. Institutional investors own 83.93% of the company's stock.

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Analysts Set New Price Targets

ONTF has been the topic of several analyst reports. William Blair reiterated a "market perform" rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ON24 in a research report 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.