OneStream (NASDAQ:OS) Sees Large Volume Increase – Here’s What Happened

Shares of OneStream, Inc. (NASDAQ:OS) saw an uptick in trading volume on Friday . 4,754,410 shares were traded during trading, an increase of 7% from the previous session’s volume of 4,428,077 shares.The stock last traded at $23.9850 and had previously closed at $23.83.

Wall Street Analysts Forecast Growth

OS has been the topic of several recent analyst reports. Piper Sandler set a $24.00 target price on shares of OneStream in a report on Monday, February 2nd. Loop Capital downgraded shares of OneStream from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $24.00 in a report on Wednesday, January 7th. Guggenheim lowered shares of OneStream from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 7th. Robert W. Baird set a $24.00 price objective on shares of OneStream in a research note on Tuesday, January 6th. Finally, TD Cowen cut OneStream from a “buy” rating to a “hold” rating and cut their target price for the stock from $27.00 to $24.00 in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.38.

OneStream Stock Up 0.7%

The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of -85.66 and a beta of 1.99. The stock has a 50 day moving average price of $23.61 and a 200 day moving average price of $20.93.

OneStream (NASDAQ:OS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.07. OneStream had a positive return on equity of 11.28% and a negative net margin of 8.36%.The company had revenue of $163.73 million during the quarter, compared to the consensus estimate of $157.28 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year. Sell-side analysts forecast that OneStream, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Ken Hohenstein sold 120,000 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $23.63, for a total value of $2,835,600.00. Following the completion of the sale, the executive directly owned 990,961 shares in the company, valued at $23,416,408.43. This represents a 10.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Pamela Mcintyre sold 6,505 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $23.58, for a total value of $153,387.90. Following the transaction, the chief accounting officer directly owned 58,847 shares of the company’s stock, valued at approximately $1,387,612.26. This represents a 9.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 255,136 shares of company stock valued at $6,016,250. Insiders own 12.77% of the company’s stock.

Hedge Funds Weigh In On OneStream

A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its holdings in OneStream by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 1,442 shares of the company’s stock valued at $41,000 after acquiring an additional 585 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in OneStream by 0.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 206,284 shares of the company’s stock worth $3,792,000 after purchasing an additional 759 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of OneStream by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock worth $332,000 after purchasing an additional 954 shares during the period. Magnetar Financial LLC lifted its position in shares of OneStream by 12.6% in the 3rd quarter. Magnetar Financial LLC now owns 10,920 shares of the company’s stock worth $201,000 after purchasing an additional 1,220 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of OneStream by 12.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,007 shares of the company’s stock valued at $239,000 after purchasing an additional 1,444 shares during the last quarter.

About OneStream

OneStream Software, Inc (NASDAQ: OS) is a software company specializing in unified Corporate Performance Management (CPM) solutions. The company’s flagship OneStream XF platform consolidates financial data, budgeting and forecasting, reporting and analytics into a single, extensible cloud solution. By replacing legacy CPM applications and manual, spreadsheet-driven processes, OneStream enables organizations to streamline financial close, improve data accuracy and accelerate decision-making across the finance function.

Built on a single codebase, the OneStream XF platform offers a marketplace of prebuilt financial applications and reporting templates that can be deployed on demand.