ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock purchased 33,407 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost of $5.56 per share, with a total value of $185,742.92. Following the completion of the transaction, the insider now owns 8,293,974 shares of the company's stock, valued at approximately $46,114,495.44. The trade was a 0.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, June 11th, Lake Lp Lynrock acquired 143 shares of ON24 stock. The stock was bought at an average cost of $5.50 per share, with a total value of $786.50.
- On Monday, June 9th, Lake Lp Lynrock acquired 47,692 shares of ON24 stock. The stock was bought at an average cost of $5.57 per share, with a total value of $265,644.44.
- On Thursday, June 5th, Lake Lp Lynrock purchased 40,283 shares of ON24 stock. The shares were acquired at an average cost of $5.52 per share, with a total value of $222,362.16.
- On Tuesday, June 3rd, Lake Lp Lynrock purchased 33,425 shares of ON24 stock. The shares were acquired at an average cost of $5.62 per share, with a total value of $187,848.50.
- On Monday, June 2nd, Lake Lp Lynrock acquired 40,283 shares of ON24 stock. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $227,598.95.
- On Friday, May 30th, Lake Lp Lynrock purchased 32,519 shares of ON24 stock. The stock was bought at an average cost of $5.67 per share, for a total transaction of $184,382.73.
- On Thursday, May 29th, Lake Lp Lynrock purchased 16,831 shares of ON24 stock. The stock was bought at an average cost of $5.63 per share, for a total transaction of $94,758.53.
- On Tuesday, May 27th, Lake Lp Lynrock acquired 32,519 shares of ON24 stock. The stock was purchased at an average price of $5.56 per share, for a total transaction of $180,805.64.
- On Friday, May 23rd, Lake Lp Lynrock purchased 27,884 shares of ON24 stock. The shares were bought at an average price of $5.44 per share, for a total transaction of $151,688.96.
- On Wednesday, May 21st, Lake Lp Lynrock acquired 27,884 shares of ON24 stock. The stock was bought at an average price of $5.43 per share, for a total transaction of $151,410.12.
ON24 Price Performance
ON24 stock traded down $0.24 during trading hours on Friday, hitting $5.29. The stock had a trading volume of 171,529 shares, compared to its average volume of 138,453. The stock has a market capitalization of $224.48 million, a price-to-earnings ratio of -5.08 and a beta of 0.66. ON24, Inc. has a 1-year low of $4.35 and a 1-year high of $7.04. The stock's fifty day moving average is $5.06 and its two-hundred day moving average is $5.86.
ON24 announced that its board has authorized a stock buyback plan on Monday, May 12th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 22.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.
Institutional Trading of ON24
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of ON24 by 38.1% during the fourth quarter. SG Americas Securities LLC now owns 14,092 shares of the company's stock valued at $91,000 after acquiring an additional 3,891 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of ON24 by 56.6% in the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock valued at $102,000 after buying an additional 5,713 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ON24 by 25.6% in the fourth quarter. Wells Fargo & Company MN now owns 17,270 shares of the company's stock valued at $112,000 after buying an additional 3,518 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of ON24 by 15.9% in the first quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock valued at $113,000 after buying an additional 2,989 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in ON24 during the 4th quarter valued at approximately $175,000. Institutional investors and hedge funds own 83.93% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on ONTF shares. JPMorgan Chase & Co. dropped 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. William Blair restated a "market perform" rating on shares of ON24 in a research note on Wednesday, February 26th. Robert W. Baird reduced their price objective on ON24 from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Canaccord Genuity Group cut their price target on ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of ON24 in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, ON24 presently has a consensus rating of "Hold" and an average target price of $5.33.
Read Our Latest Analysis on ON24
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.
Further Reading
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