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

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock acquired 38,022 shares of ON24 stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $5.75 per share, with a total value of $218,626.50. Following the completion of the purchase, the insider now owns 7,583,430 shares in the company, valued at $43,604,722.50. The trade was a 0.50 % increase in their position. The purchase 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 transactions with the SEC.

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

• On Monday, March 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was purchased at an average cost of $5.56 per share, with a total value of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average cost of $5.81 per share, with a total value of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average cost of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The stock was purchased at an average cost of $5.57 per share, with a total value of $155,519.97.

ON24 Stock Down 4.4 %

Shares of ONTF traded down $0.26 during midday trading on Monday, reaching $5.59. The company had a trading volume of 128,782 shares, compared to its average volume of 138,934. ON24, Inc. has a 1-year low of $5.37 and a 1-year high of $7.38. The stock has a market cap of $232.62 million, a PE ratio of -5.37 and a beta of 0.55. The firm has a 50 day simple moving average of $6.38 and a 200-day simple moving average of $6.37.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. William Blair reaffirmed a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th.

Institutional Trading of ON24

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of ON24 by 48.7% during the 3rd quarter. Barclays PLC now owns 101,837 shares of the company's stock worth $624,000 after purchasing an additional 33,352 shares during the period. Jane Street Group LLC grew its holdings in shares of ON24 by 91.2% during the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company's stock worth $374,000 after purchasing an additional 29,148 shares during the period. P.A.W. Capital Corp purchased a new position in shares of ON24 during the 4th quarter worth $484,000. FMR LLC grew its holdings in shares of ON24 by 45.0% during the 3rd quarter. FMR LLC now owns 27,483 shares of the company's stock worth $168,000 after purchasing an additional 8,528 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of ON24 by 38.1% during 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 during the period. 83.93% of the stock is owned by institutional investors and hedge funds.

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.