Lake Lp Lynrock Purchases 27,921 Shares of ON24, Inc. (NYSE:ONTF) Stock

ON24, Inc. (NYSE:ONTF) major shareholder Lake Lp Lynrock acquired 27,921 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $5.81 per share, with a total value of $162,221.01. Following the acquisition, the insider now directly owns 7,469,364 shares in the company, valued at $43,397,004.84. This represents a 0.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock 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 purchased 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 Wednesday, March 5th, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were bought at an average price of $5.64 per share, for a total transaction of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was purchased at an average cost of $5.57 per share, with a total value of $155,519.97.

ON24 Stock Performance

NYSE ONTF opened at $5.74 on Thursday. The stock has a market cap of $238.87 million, a PE ratio of -5.51 and a beta of 0.55. The firm has a 50-day moving average of $6.41 and a 200-day moving average of $6.38. ON24, Inc. has a 52-week low of $5.37 and a 52-week high of $7.38.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ONTF shares. JPMorgan Chase & Co. cut their price target 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. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research note on Wednesday, February 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of ON24 in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of ON24 by 43.5% in the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company’s stock valued at $5,307,000 after purchasing an additional 249,045 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in ON24 by 50.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 363,948 shares of the company’s stock valued at $2,351,000 after buying an additional 122,700 shares in the last quarter. BNP Paribas Financial Markets bought a new position in ON24 during the 4th quarter worth $777,000. P.A.W. Capital Corp bought a new position in ON24 during the 4th quarter worth $484,000. Finally, Norges Bank acquired a new stake in shares of ON24 during the fourth quarter worth $428,000. 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.