Arrowstreet Capital Limited Partnership Acquires 617,092 Shares of Onespan Inc $OSPN

Key Points

• Arrowstreet Capital nearly doubled its OneSpan position in the first quarter, acquiring 617,092 shares to hold 1.27 million shares worth approximately $13.4 million, or 3.42% of the company.
• Institutional investors own 95.52% of OneSpan, while analysts maintain a consensus “Hold” rating with an average price target of $16.67; the stock recently opened at $15.48.
• OneSpan exceeded quarterly expectations, reporting EPS of $0.39 versus $0.36 expected and revenue of $65.95 million versus $62.40 million forecast. Separately, CFO Jorge Garcia Martell sold 20,000 shares at an average price of $14.45.

Arrowstreet Capital Limited Partnership grew its holdings in shares of Onespan Inc (NASDAQ:OSPN - Free Report) by 94.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,268,242 shares of the company's stock after acquiring an additional 617,092 shares during the period. Arrowstreet Capital Limited Partnership owned about 3.42% of Onespan worth $13,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Onespan by 81.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,000 shares of the company's stock worth $26,000 after buying an additional 900 shares in the last quarter. Register Financial Advisors LLC lifted its position in shares of Onespan by 2.3% during the 4th quarter. Register Financial Advisors LLC now owns 68,628 shares of the company's stock valued at $881,000 after buying an additional 1,521 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Onespan by 4.7% during the 4th quarter. Deutsche Bank AG now owns 33,569 shares of the company's stock valued at $431,000 after buying an additional 1,522 shares in the last quarter. Amundi grew its stake in shares of Onespan by 10.0% during the 4th quarter. Amundi now owns 18,463 shares of the company's stock valued at $237,000 after acquiring an additional 1,676 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Onespan by 15.5% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,750 shares of the company's stock valued at $177,000 after acquiring an additional 1,850 shares during the period. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OSPN has been the subject of a number of recent analyst reports. Wall Street Zen lowered Onespan from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Rosenblatt Securities reissued a "buy" rating and set a $15.00 target price on shares of Onespan in a research note on Thursday, June 25th. DA Davidson reissued a "neutral" rating and issued a $12.00 price target on shares of Onespan in a report on Tuesday, June 30th. Zacks Research upgraded Onespan from a "strong sell" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Onespan from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.67.

Insider Activity at Onespan

In other news, CFO Jorge Garcia Martell sold 20,000 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $14.45, for a total value of $289,000.00. Following the transaction, the chief financial officer directly owned 91,018 shares in the company, valued at approximately $1,315,210.10. This represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Onespan Price Performance

Onespan stock opened at $15.48 on Friday. Onespan Inc has a 1-year low of $10.07 and a 1-year high of $16.44. The firm has a market capitalization of $573.84 million, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.53. The company's 50-day moving average is $14.57 and its 200 day moving average is $12.48.

Onespan (NASDAQ:OSPN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Onespan had a return on equity of 18.03% and a net margin of 28.47%.The business had revenue of $65.95 million during the quarter, compared to analyst estimates of $62.40 million. Research analysts anticipate that Onespan Inc will post 1.02 earnings per share for the current fiscal year.

Onespan Company Profile

OneSpan, formerly known as Vasco Data Security International, is a Chicago-based cybersecurity software company specializing in digital identity and anti-fraud solutions. Founded in 1991, the company provides a suite of authentication and transaction security products designed to help organizations protect critical applications and high-value transactions across online, mobile and in-branch channels.

The core OneSpan portfolio includes multi-factor authentication, risk-based authentication and transaction signing solutions.

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