ON24, Inc. (NYSE:ONTF) Major Shareholder Purchases $220,147.38 in Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock bought 38,022 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $5.79 per share, for a total transaction of $220,147.38. Following the purchase, the insider now owns 7,659,474 shares of the company’s stock, valued at approximately $44,348,354.46. This represents a 0.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 12th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.75 per share, for a total transaction of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The shares were bought at an average cost of $5.56 per share, with a total value of $211,402.32.
• On Friday, March 7th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were bought at an average cost of $5.81 per share, with a total value of $162,221.01.
• 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 bought 27,921 shares of ON24 stock. The shares were acquired at an average cost of $5.57 per share, with a total value of $155,519.97.

ON24 Price Performance

Shares of ONTF traded down $0.08 during midday trading on Tuesday, hitting $5.51. The stock had a trading volume of 221,546 shares, compared to its average volume of 139,258. ON24, Inc. has a 1 year low of $5.37 and a 1 year high of $7.38. The firm has a market cap of $229.29 million, a PE ratio of -5.29 and a beta of 0.55. The stock’s 50 day moving average is $6.36 and its 200 day moving average is $6.36.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ONTF shares. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, William Blair reiterated a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th.

Institutional Investors Weigh In On ON24

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of ON24 by 1.6% in the fourth quarter. Federated Hermes Inc. now owns 1,167,713 shares of the company’s stock valued at $7,543,000 after acquiring an additional 18,372 shares during the period. JPMorgan Chase & Co. increased its stake in ON24 by 43.5% in the 4th quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock worth $5,307,000 after buying an additional 249,045 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in ON24 by 15.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company’s stock worth $3,166,000 after buying an additional 66,022 shares during the period. Horrell Capital Management Inc. increased its stake in ON24 by 15.9% in the 4th quarter. Horrell Capital Management Inc. now owns 394,196 shares of the company’s stock worth $2,547,000 after buying an additional 54,000 shares during the period. Finally, Circumference Group LLC increased its position in ON24 by 15.9% during the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company’s stock valued at $2,547,000 after purchasing an additional 54,000 shares during the period. Hedge funds and other institutional investors own 83.93% of the company’s stock.

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.