Insider Buying: ON24, Inc. (NYSE:ONTF) Major Shareholder Buys 27,921 Shares of Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock bought 27,921 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $5.57 per share, with a total value of $155,519.97. Following the completion of the transaction, the insider now owns 7,357,680 shares of the company's stock, valued at approximately $40,982,277.60. The trade was a 0.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases 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 shares were acquired at an average price of $5.64 per share, with a total value of $157,474.44.

ON24 Stock Performance

ONTF traded up $0.01 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 fifty day moving average price of $6.46 and a 200-day moving average price of $6.39. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $7.38. The stock has a market capitalization of $239.28 million, a price-to-earnings ratio of -5.52 and a beta of 0.55.

Hedge Funds Weigh In On ON24

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTF. SG Americas Securities LLC grew 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 purchasing an additional 3,891 shares during the last quarter. Squarepoint Ops LLC grew its stake in ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock valued at $102,000 after purchasing an additional 5,713 shares during the last quarter. Wells Fargo & Company MN grew its stake in ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock valued at $112,000 after purchasing an additional 3,518 shares during the last quarter. Gladius Capital Management LP grew its stake in ON24 by 151.2% in the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company's stock valued at $140,000 after purchasing an additional 13,755 shares during the last quarter. Finally, R Squared Ltd purchased a new position in ON24 in the fourth quarter valued at about $153,000. Hedge funds and other institutional investors own 83.93% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently weighed in on ONTF shares. JPMorgan Chase & Co. decreased their price objective on ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of ON24 in a report on Wednesday, February 26th. Finally, William Blair restated a "market perform" rating on shares of ON24 in a 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.