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

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock bought 38,022 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $5.75 per share, for a total transaction of $218,626.50. Following the transaction, the insider now directly owns 7,583,430 shares in the company, valued at $43,604,722.50. This trade represents a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Monday, March 10th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The shares were 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 shares were 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 Price Performance

Shares of NYSE ONTF traded down $0.08 during trading on Tuesday, hitting $5.51. The stock had a trading volume of 221,546 shares, compared to its average volume of 139,258. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $7.38. The company has a market capitalization of $229.29 million, a PE ratio of -5.29 and a beta of 0.55. The firm has a fifty day moving average of $6.36 and a two-hundred day moving average of $6.36.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. William Blair restated 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 on the stock 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.

Institutional Trading of ON24

Several institutional investors have recently made changes to their positions in ONTF. Gladius Capital Management LP grew its stake in shares of ON24 by 151.2% in the 3rd 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. FMR LLC grew its stake in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company's stock worth $168,000 after acquiring an additional 8,528 shares in the last quarter. Jane Street Group LLC grew its stake in shares of ON24 by 91.2% in the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company's stock worth $374,000 after acquiring an additional 29,148 shares in the last quarter. Barclays PLC grew its stake in shares of ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company's stock worth $624,000 after acquiring an additional 33,352 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in 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 buying an additional 3,891 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.