Los Angeles Capital Management LLC Sells 33,400 Shares of OneSpan Inc. (NASDAQ:OSPN)

Los Angeles Capital Management LLC decreased its stake in OneSpan Inc. (NASDAQ:OSPN) by 15.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,621 shares of the company’s stock after selling 33,400 shares during the period. Los Angeles Capital Management LLC owned about 0.49% of OneSpan worth $3,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in OSPN. Covestor Ltd bought a new position in OneSpan in the third quarter valued at $65,000. Principal Financial Group Inc. purchased a new position in shares of OneSpan in the 3rd quarter worth about $312,000. Assenagon Asset Management S.A. increased its position in shares of OneSpan by 113.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 337,823 shares of the company’s stock valued at $5,632,000 after purchasing an additional 179,497 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of OneSpan during the 3rd quarter valued at about $158,000. Finally, Ellsworth Advisors LLC purchased a new position in shares of OneSpan during the 3rd quarter valued at about $545,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OSPN. Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of OneSpan in a report on Monday, October 28th. Finally, StockNews.com raised shares of OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, OneSpan currently has an average rating of “Buy” and a consensus price target of $17.13.

OneSpan Stock Down 1.3 %

Shares of NASDAQ OSPN opened at $17.37 on Wednesday. The firm’s fifty day moving average is $15.68 and its 200 day moving average is $14.30. OneSpan Inc. has a 52 week low of $9.22 and a 52 week high of $17.81. The company has a market cap of $659.90 million, a price-to-earnings ratio of 23.47 and a beta of 0.75.

About OneSpan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.