ON24, Inc. (NYSE:ONTF) Major Shareholder Buys $131,973.12 in Stock

ON24, Inc. (NYSE:ONTF - Get Free Report) major shareholder Lake Lp Lynrock bought 24,576 shares of ON24 stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $5.37 per share, with a total value of $131,973.12. Following the purchase, the insider now owns 7,733,202 shares of the company's stock, valued at $41,527,294.74. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, May 19th, Lake Lp Lynrock acquired 27,884 shares of ON24 stock. The stock was purchased at an average price of $5.48 per share, with a total value of $152,804.32.
• On Friday, May 16th, Lake Lp Lynrock acquired 24,576 shares of ON24 stock. The shares were purchased at an average price of $5.52 per share, for a total transaction of $135,659.52.
• On Thursday, May 15th, Lake Lp Lynrock bought 12,971 shares of ON24 stock. The stock was bought at an average cost of $5.46 per share, with a total value of $70,821.66.
• On Monday, May 12th, Lake Lp Lynrock purchased 24,576 shares of ON24 stock. The stock was bought at an average cost of $5.16 per share, for a total transaction of $126,812.16.
• On Friday, March 14th, Lake Lp Lynrock purchased 38,022 shares of ON24 stock. The stock was purchased at an average price of $5.79 per share, for a total transaction of $220,147.38.
• On Wednesday, March 12th, Lake Lp Lynrock purchased 38,022 shares of ON24 stock. The shares were acquired at an average cost of $5.75 per share, with a total value of $218,626.50.
• On Monday, March 10th, Lake Lp Lynrock acquired 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 Friday, March 7th, Lake Lp Lynrock bought 27,921 shares of ON24 stock. The stock was bought at an average cost of $5.81 per share, for a total transaction of $162,221.01.
• On Wednesday, March 5th, Lake Lp Lynrock purchased 27,921 shares of ON24 stock. The stock was bought at an average cost of $5.64 per share, with a total value of $157,474.44.
• On Monday, March 3rd, Lake Lp Lynrock acquired 27,921 shares of ON24 stock. The shares were purchased at an average cost of $5.57 per share, for a total transaction of $155,519.97.

ON24 Price Performance

NYSE:ONTF traded down $0.02 during trading hours on Tuesday, reaching $5.38. 13,590 shares of the stock were exchanged, compared to its average volume of 130,370. ON24, Inc. has a twelve month low of $4.35 and a twelve month high of $7.03. The stock has a market cap of $228.52 million, a PE ratio of -5.17 and a beta of 0.56. The firm has a 50 day moving average of $5.02 and a 200 day moving average of $5.97.

ON24 declared that its board has authorized a share repurchase plan on Monday, May 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 22.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On ON24

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in ON24 by 38.1% during the fourth 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. Squarepoint Ops LLC raised its position in ON24 by 56.6% during the fourth quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock worth $102,000 after acquiring an additional 5,713 shares in the last quarter. Wells Fargo & Company MN lifted its stake in 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 acquiring an additional 3,518 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of ON24 by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 21,741 shares of the company's stock worth $113,000 after purchasing an additional 2,989 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of ON24 in the 4th quarter valued at about $153,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.