ON24, Inc. (NYSE:ONTF – Get Free Report) major shareholder Lake Lp Lynrock purchased 32,519 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $5.67 per share, with a total value of $184,382.73. Following the completion of the acquisition, the insider now directly owns 8,010,766 shares in the company, valued at approximately $45,421,043.22. This represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large 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, June 2nd, Lake Lp Lynrock bought 40,283 shares of ON24 stock. The shares were acquired at an average price of $5.65 per share, for a total transaction of $227,598.95.
- On Thursday, May 29th, Lake Lp Lynrock bought 16,831 shares of ON24 stock. The stock was acquired at an average price of $5.63 per share, with a total value of $94,758.53.
- On Tuesday, May 27th, Lake Lp Lynrock purchased 32,519 shares of ON24 stock. The shares were bought at an average price of $5.56 per share, for a total transaction of $180,805.64.
- On Friday, May 23rd, Lake Lp Lynrock acquired 27,884 shares of ON24 stock. The stock was bought at an average price of $5.44 per share, with a total value of $151,688.96.
- On Wednesday, May 21st, Lake Lp Lynrock bought 27,884 shares of ON24 stock. The shares were bought at an average price of $5.43 per share, for a total transaction of $151,410.12.
- On Tuesday, May 20th, Lake Lp Lynrock acquired 14,093 shares of ON24 stock. The stock was bought at an average price of $5.44 per share, with a total value of $76,665.92.
- On Monday, May 19th, Lake Lp Lynrock acquired 27,884 shares of ON24 stock. The stock was purchased at an average price of $5.48 per share, for a total transaction of $152,804.32.
- On Friday, May 16th, Lake Lp Lynrock bought 24,576 shares of ON24 stock. The stock was purchased at an average cost of $5.52 per share, with a total value of $135,659.52.
- On Thursday, May 15th, Lake Lp Lynrock purchased 12,971 shares of ON24 stock. The shares were purchased at an average cost of $5.46 per share, for a total transaction of $70,821.66.
- On Wednesday, May 14th, Lake Lp Lynrock acquired 24,576 shares of ON24 stock. The stock was purchased at an average price of $5.37 per share, with a total value of $131,973.12.
ON24 Trading Down 2.0%
NYSE:ONTF opened at $5.49 on Thursday. ON24, Inc. has a 1 year low of $4.35 and a 1 year high of $7.04. The stock has a 50-day moving average price of $5.00 and a two-hundred day moving average price of $5.90. The stock has a market cap of $233.19 million, a price-to-earnings ratio of -5.28 and a beta of 0.66.
Analyst Ratings Changes
Several analysts have weighed in on the company. Robert W. Baird dropped their price objective on ON24 from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. William Blair reaffirmed a “market perform” rating on shares of ON24 in a research note on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of ON24 in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on shares of ON24 from $9.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ON24 from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, ON24 presently has an average rating of “Hold” and an average target price of $5.33.
Institutional Trading of ON24
A number of large investors have recently bought and sold shares of ONTF. SG Americas Securities LLC lifted 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 buying an additional 3,891 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of ON24 by 56.6% during the fourth 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 period. Wells Fargo & Company MN lifted its position 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 in the last quarter. AQR Capital Management LLC boosted its stake in ON24 by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company’s stock worth $113,000 after purchasing an additional 2,989 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in ON24 during the 4th quarter worth about $175,000. 83.93% of the stock is owned by institutional investors.
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.
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