Lake Lp Lynrock Acquires 38,022 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock purchased 38,022 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $5.75 per share, for a total transaction of $218,626.50. Following the completion of the acquisition, the insider now owns 7,583,430 shares in the company, valued at $43,604,722.50. This represents a 0.50 % increase in their position. The purchase was disclosed in a 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 sales and purchases with the SEC.

Lake Lp Lynrock also recently made the following trade(s):

• On Monday, March 10th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The shares were bought at an average price of $5.56 per share, for a total transaction 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 bought 27,921 shares of ON24 stock. The shares were acquired at an average price of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock purchased 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 Trading Up 4.6 %

ONTF opened at $5.86 on Friday. The business’s fifty day simple moving average is $6.38 and its 200-day simple moving average is $6.37. The company has a market capitalization of $244.03 million, a price-to-earnings ratio of -5.63 and a beta of 0.55. ON24, Inc. has a 12-month low of $5.37 and a 12-month high of $7.38.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONTF. Gladius Capital Management LP boosted its stake 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 valued at $140,000 after purchasing an additional 13,755 shares in the last quarter. FMR LLC lifted its holdings in ON24 by 45.0% during the third quarter. FMR LLC now owns 27,483 shares of the company’s stock worth $168,000 after buying an additional 8,528 shares during the period. Jane Street Group LLC boosted its position in ON24 by 91.2% during the 3rd quarter. Jane Street Group LLC now owns 61,122 shares of the company’s stock valued at $374,000 after acquiring an additional 29,148 shares in the last quarter. Barclays PLC increased its holdings in shares of ON24 by 48.7% in the 3rd quarter. Barclays PLC now owns 101,837 shares of the company’s stock valued at $624,000 after acquiring an additional 33,352 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of ON24 by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 14,092 shares of the company’s stock worth $91,000 after acquiring an additional 3,891 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

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.