ON24, Inc. (NYSE:ONTF) Major Shareholder Lake Lp Lynrock Buys 27,921 Shares

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 27,921 shares of ON24 stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $5.57 per share, for a total transaction of $155,519.97. Following the completion of the transaction, the insider now directly owns 7,357,680 shares in the company, valued at $40,982,277.60. The trade was a 0.38 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major 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 bought at an average price of $5.64 per share, with a total value of $157,474.44.

ON24 Stock Up 0.8 %

ON24 stock opened at $5.67 on Thursday. ON24, Inc. has a twelve month low of $5.37 and a twelve month high of $7.38. The stock has a market cap of $235.95 million, a P/E ratio of -5.45 and a beta of 0.55. The company’s 50-day moving average price is $6.49 and its two-hundred day moving average price is $6.40.

Institutional Trading of ON24

Hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its holdings in shares of ON24 by 151.2% during the third quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock worth $140,000 after purchasing an additional 13,755 shares during the period. FMR LLC raised its position in shares of ON24 by 45.0% in the 3rd quarter. FMR LLC now owns 27,483 shares of the company’s stock valued at $168,000 after buying an additional 8,528 shares in the last quarter. Jane Street Group LLC lifted 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 acquiring an additional 29,148 shares during the period. Barclays PLC boosted its position 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 acquiring an additional 33,352 shares in the last quarter. Finally, SG Americas Securities LLC increased 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 acquiring an additional 3,891 shares during the last quarter. 83.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONTF has been the subject of a number of recent analyst reports. William Blair restated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th.

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.