Insider Buying: ON24, Inc. (NYSE:ONTF) Major Shareholder Purchases $211,402.32 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 38,022 shares of ON24 stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $5.56 per share, with a total value of $211,402.32. Following the transaction, the insider now owns 7,507,386 shares in the company, valued at approximately $41,741,066.16. The trade was a 0.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, March 7th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The shares were 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 purchased 27,921 shares of ON24 stock. The shares were 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 bought at an average cost of $5.57 per share, with a total value of $155,519.97.

ON24 Trading Up 1.5 %

NYSE ONTF opened at $5.74 on Thursday. The company has a market cap of $238.87 million, a PE ratio of -5.51 and a beta of 0.55. ON24, Inc. has a 12 month low of $5.37 and a 12 month high of $7.38. The stock has a 50 day moving average of $6.41 and a 200-day moving average of $6.38.

Institutional Investors Weigh In On ON24

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised 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 valued at $91,000 after acquiring an additional 3,891 shares during the period. Squarepoint Ops LLC raised its stake in ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company’s stock valued at $102,000 after acquiring an additional 5,713 shares during the period. Wells Fargo & Company MN raised its stake in ON24 by 25.6% in the 4th quarter. Wells Fargo & Company MN now owns 17,270 shares of the company’s stock valued at $112,000 after acquiring an additional 3,518 shares during the period. Gladius Capital Management LP raised its stake in ON24 by 151.2% in the 3rd quarter. Gladius Capital Management LP now owns 22,854 shares of the company’s stock valued at $140,000 after acquiring an additional 13,755 shares during the period. Finally, R Squared Ltd bought a new stake in ON24 in the 4th quarter valued at $153,000. Institutional investors own 83.93% of the company’s stock.

Analyst Upgrades and Downgrades

ONTF has been the subject of several recent analyst reports. William Blair reissued a “market perform” rating on shares of ON24 in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report 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.