ON24, Inc. (NYSE:ONTF) Major Shareholder Acquires $162,221.01 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 27,921 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $5.81 per share, for a total transaction of $162,221.01. Following the completion of the transaction, the insider now owns 7,469,364 shares in the company, valued at approximately $43,397,004.84. This trade represents a 0.38 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more 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 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was acquired at an average price of $5.56 per share, for a total transaction of $211,402.32.
• On Wednesday, March 5th, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The shares were acquired at an average cost of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The stock was bought at an average cost of $5.57 per share, for a total transaction of $155,519.97.

ON24 Trading Up 1.5 %

Shares of ON24 stock opened at $5.74 on Thursday. 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 $238.87 million, a PE ratio of -5.51 and a beta of 0.55. The stock’s fifty day simple moving average is $6.41 and its 200 day simple moving average is $6.38.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On ON24

Several institutional investors have recently modified their holdings of ONTF. Barclays PLC raised its holdings in ON24 by 48.7% during the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock worth $624,000 after buying an additional 33,352 shares during the period. Jane Street Group LLC increased its position in shares of ON24 by 91.2% during the third 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. P.A.W. Capital Corp acquired a new stake in shares of ON24 during the fourth quarter worth $484,000. FMR LLC raised its holdings in shares of ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after acquiring an additional 8,528 shares during the period. Finally, SG Americas Securities LLC boosted 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 during the period. Institutional investors own 83.93% of the company’s stock.

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.