ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock acquired 27,884 shares of ON24 stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $5.44 per share, with a total value of $151,688.96. Following the transaction, the insider now owns 7,896,378 shares of the company's stock, valued at $42,956,296.32. The trade was a 0.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Tuesday, May 27th, Lake Lp Lynrock purchased 32,519 shares of ON24 stock. The shares were bought at an average cost of $5.56 per share, with a total value of $180,805.64.
- On Wednesday, May 21st, Lake Lp Lynrock purchased 27,884 shares of ON24 stock. The shares were bought at an average cost of $5.43 per share, with a total value of $151,410.12.
- On Tuesday, May 20th, Lake Lp Lynrock purchased 14,093 shares of ON24 stock. The shares were bought at an average cost of $5.44 per share, with a total value of $76,665.92.
- On Monday, May 19th, Lake Lp Lynrock purchased 27,884 shares of ON24 stock. The shares were bought at an average cost of $5.48 per share, with a total value of $152,804.32.
- On Friday, May 16th, Lake Lp Lynrock purchased 24,576 shares of ON24 stock. The shares were bought 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 bought at an average cost of $5.46 per share, with a total value of $70,821.66.
- On Wednesday, May 14th, Lake Lp Lynrock purchased 24,576 shares of ON24 stock. The shares were bought at an average cost of $5.37 per share, with a total value of $131,973.12.
- On Monday, May 12th, Lake Lp Lynrock purchased 24,576 shares of ON24 stock. The shares were bought at an average cost of $5.16 per share, with a total value of $126,812.16.
- On Friday, March 14th, Lake Lp Lynrock acquired 38,022 shares of ON24 stock. The stock was acquired at an average cost of $5.79 per share, with a total value of $220,147.38.
- On Wednesday, March 12th, Lake Lp Lynrock bought 38,022 shares of ON24 stock. The shares were acquired at an average price of $5.75 per share, with a total value of $218,626.50.
ON24 Stock Performance
ON24 stock remained flat at $5.70 during midday trading on Friday. The company had a trading volume of 210,195 shares, compared to its average volume of 137,093. The business's 50 day moving average price is $5.00 and its two-hundred day moving average price is $5.92. ON24, Inc. has a 52 week low of $4.35 and a 52 week high of $7.04. The company has a market cap of $242.11 million, a PE ratio of -5.48 and a beta of 0.56.
ON24 declared that its Board of Directors has approved a share repurchase plan on Monday, May 12th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 22.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Canaccord Genuity Group cut their target price on ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Robert W. Baird cut their target price on ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. William Blair reiterated a "market perform" rating on shares of ON24 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ON24 in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.33.
Check Out Our Latest Research Report on ON24
Hedge Funds Weigh In On ON24
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in ON24 by 43.5% during the fourth quarter. JPMorgan Chase & Co. now owns 821,461 shares of the company's stock valued at $5,307,000 after buying an additional 249,045 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in ON24 by 50.9% during the fourth 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 during the last quarter. P.A.W. Capital Corp bought a new stake in shares of ON24 in the 4th quarter valued at approximately $484,000. BNP Paribas Financial Markets bought a new stake in shares of ON24 in the 4th quarter valued at approximately $777,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of ON24 by 15.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 490,086 shares of the company's stock valued at $3,166,000 after purchasing an additional 66,022 shares during the last quarter. 83.93% of the stock is owned by institutional investors.
About ON24
(
Get Free Report)
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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