Nucor earnings beat by $0.08, revenue fell short of estimates
Lynrock Lake LP, a significant shareholder of ON24 Inc. (NYSE:ONTF), recently made noteworthy purchases of the company’s common stock. According to a recent SEC filing, Lynrock Lake LP acquired a total of 69,861 shares over three consecutive days, from May 20 to May 22, 2025. The shares were bought at prices ranging from $5.43 to $5.48 per share, culminating in a total investment of approximately $380,880. The purchases come at an interesting time, as InvestingPro data shows ON24 trading near its Fair Value with a strong balance sheet, holding more cash than debt and maintaining a healthy current ratio of 2.53.
These transactions increase Lynrock Lake LP’s holdings in ON24 to 7,868,494 shares, held indirectly through the Lynrock Lake Master Fund LP. Cynthia Paul, serving as the Chief Investment Officer of Lynrock Lake and a director of ON24, is associated with these transactions. The shares are held by the fund, with Paul and Lynrock Lake disclaiming beneficial ownership beyond their pecuniary interest. InvestingPro analysis reveals management has been actively buying back shares, demonstrating confidence in the company’s prospects. Get access to 8 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, ON24 reported its first-quarter 2025 financial results, which showed a mixed performance. The company missed earnings per share (EPS) expectations, reporting -$0.01 against the forecasted $0.02. However, revenue slightly exceeded expectations, coming in at $34.7 million compared to the anticipated $34.28 million. Additionally, ON24 maintained positive free cash flow for the fifth consecutive quarter, which is a positive sign for investors. In other developments, ON24 has appointed David Lee as the new Chief Marketing Officer to strengthen its AI engagement platform. Lee has a strong background in B2B technology and SaaS, having previously served as CMO at Envestnet (NYSE:ENV) | Yodlee. Furthermore, ON24 has announced a new $50 million share repurchase program, which underscores confidence in the company’s long-term growth potential. The company is also focusing on expanding its AI capabilities and diversifying its customer base beyond traditional technology and manufacturing sectors. Analyst firms such as Needham and Canaccord have noted ON24’s ongoing efforts to improve its market position amid macroeconomic uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.