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ON24, Inc. (NYSE:ONTF) Major Shareholder Acquires $185,742.92 in Stock

ON24 logo with Computer and Technology background

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock acquired 33,407 shares of ON24 stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average price of $5.56 per share, with a total value of $185,742.92. Following the transaction, the insider now owns 8,293,974 shares of the company's stock, valued at $46,114,495.44. The trade was a 0.40% 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 Wednesday, June 11th, Lake Lp Lynrock purchased 143 shares of ON24 stock. The shares were acquired at an average price of $5.50 per share, for a total transaction of $786.50.
  • On Monday, June 9th, Lake Lp Lynrock purchased 47,692 shares of ON24 stock. The stock was bought at an average price of $5.57 per share, with a total value of $265,644.44.
  • On Thursday, June 5th, Lake Lp Lynrock acquired 40,283 shares of ON24 stock. The shares were bought at an average cost of $5.52 per share, for a total transaction of $222,362.16.
  • On Tuesday, June 3rd, Lake Lp Lynrock bought 33,425 shares of ON24 stock. The stock was purchased at an average cost of $5.62 per share, with a total value of $187,848.50.
  • On Monday, June 2nd, Lake Lp Lynrock bought 40,283 shares of ON24 stock. The shares were purchased at an average price 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 purchased at an average price of $5.67 per share, with a total value of $184,382.73.
  • On Thursday, May 29th, Lake Lp Lynrock acquired 16,831 shares of ON24 stock. The shares were purchased at an average price of $5.63 per share, for a total transaction of $94,758.53.
  • On Tuesday, May 27th, Lake Lp Lynrock purchased 32,519 shares of ON24 stock. The shares were acquired at an average cost of $5.56 per share, for a total transaction of $180,805.64.
  • On Friday, May 23rd, Lake Lp Lynrock bought 27,884 shares of ON24 stock. The shares were acquired at an average price of $5.44 per share, with a total value of $151,688.96.
  • On Wednesday, May 21st, Lake Lp Lynrock purchased 27,884 shares of ON24 stock. The stock was acquired at an average price of $5.43 per share, with a total value of $151,410.12.

ON24 Stock Performance

NYSE ONTF traded up $0.11 during trading on Monday, hitting $5.40. The stock had a trading volume of 185,196 shares, compared to its average volume of 138,727. The stock has a market capitalization of $229.53 million, a price-to-earnings ratio of -5.20 and a beta of 0.66. The stock has a 50 day simple moving average of $5.08 and a 200 day simple moving average of $5.84. ON24, Inc. has a one year low of $4.35 and a one year high of $7.04.

ON24 announced that its board has authorized a stock buyback plan on Monday, May 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 22.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Institutional Trading of ON24

A number of large investors have recently modified their holdings of ONTF. Lynrock Lake LP raised its holdings in shares of ON24 by 4.5% in the first quarter. Lynrock Lake LP now owns 7,659,474 shares of the company's stock valued at $39,829,000 after acquiring an additional 329,715 shares in the last quarter. JPMorgan Chase & Co. increased its position in ON24 by 43.5% during the 4th 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 period. Acadian Asset Management LLC raised its holdings in shares of ON24 by 18.0% in the 1st quarter. Acadian Asset Management LLC now owns 830,851 shares of the company's stock valued at $4,319,000 after purchasing an additional 127,010 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of 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 purchasing an additional 122,700 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of ON24 in the 4th quarter worth approximately $777,000. Hedge funds and other institutional investors own 83.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on ON24 from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of ON24 in a research report on Wednesday, February 26th. William Blair reiterated a "market perform" rating on shares of ON24 in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group lowered their price target on ON24 from $9.00 to $5.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.33.

Read Our Latest Stock Report on ON24

ON24 Company Profile

(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.

See Also

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