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

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 38,022 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $5.79 per share, for a total transaction of $220,147.38. Following the transaction, the insider now owns 7,659,474 shares of the company’s stock, valued at $44,348,354.46. The trade was a 0.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 Wednesday, March 12th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The shares were bought at an average price of $5.75 per share, for a total transaction of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.56 per share, with a total value of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The shares were purchased 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 stock was purchased at an average price of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was acquired at an average price of $5.57 per share, for a total transaction of $155,519.97.

ON24 Trading Down 0.3 %

NYSE:ONTF opened at $5.50 on Thursday. The firm’s 50 day moving average is $6.31 and its 200 day moving average is $6.35. 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 $228.87 million, a PE ratio of -5.28 and a beta of 0.55.

Institutional Trading of ON24

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock worth $102,000 after acquiring an additional 5,713 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of ON24 by 11.9% in the fourth quarter. Two Sigma Investments LP now owns 175,366 shares of the company’s stock worth $1,133,000 after purchasing an additional 18,647 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of ON24 by 11.4% in the fourth quarter. Two Sigma Advisers LP now owns 256,900 shares of the company’s stock valued at $1,660,000 after purchasing an additional 26,200 shares during the period. Millennium Management LLC lifted its stake in shares of ON24 by 84.8% during the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company’s stock valued at $920,000 after buying an additional 65,322 shares in the last quarter. Finally, Circumference Group LLC boosted its holdings in ON24 by 15.9% in the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock worth $2,547,000 after buying an additional 54,000 shares during the period. 83.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ONTF. William Blair reiterated a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on ON24 from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated 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.