Envestnet Asset Management Inc. Has $4.33 Million Stake in OneStream, Inc. (NASDAQ:OS)

Key Points

• Envestnet Asset Management Inc. increased its stake in OneStream, Inc. by 77.7%, acquiring an additional 88,706 shares and now holds approximately 0.09% of the company valued at $4.33 million.
• Brokerage firms have amended their outlook on OneStream's stock, with BMO Capital Markets raising their price target to $33.00, while the consensus target price is $32.05.
• OneStream reported a 23.6% year-over-year revenue growth in its latest earnings report, bringing in $136.31 million, and surpassed analysts' EPS estimates with a profit of $0.04 per share.

Envestnet Asset Management Inc. boosted its holdings in OneStream, Inc. (NASDAQ:OS - Free Report) by 77.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,898 shares of the company's stock after buying an additional 88,706 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of OneStream worth $4,330,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rhumbline Advisers acquired a new stake in OneStream in the first quarter worth $35,000. KLP Kapitalforvaltning AS bought a new stake in shares of OneStream in the 4th quarter valued at $214,000. Blue Trust Inc. increased its position in shares of OneStream by 4,980.0% in the 1st quarter. Blue Trust Inc. now owns 10,160 shares of the company's stock valued at $217,000 after buying an additional 9,960 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of OneStream in the 4th quarter valued at $238,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of OneStream in the 4th quarter valued at $239,000.

Insider Activity at OneStream

In other news, Director John Kinzer sold 30,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $28.26, for a total transaction of $847,800.00. Following the completion of the sale, the director owned 7,130 shares in the company, valued at approximately $201,493.80. This trade represents a 80.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Ken Hohenstein sold 20,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $25.12, for a total transaction of $502,400.00. Following the sale, the executive owned 1,003,163 shares of the company's stock, valued at approximately $25,199,454.56. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,973 shares of company stock worth $5,300,358 in the last quarter. 12.77% of the stock is owned by corporate insiders.

OneStream Stock Performance

Shares of OS traded up $0.10 during midday trading on Tuesday, reaching $24.91. The stock had a trading volume of 160,199 shares, compared to its average volume of 1,409,153. The firm has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $25.16. OneStream, Inc. has a one year low of $16.69 and a one year high of $35.39.

OneStream (NASDAQ:OS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. OneStream had a negative net margin of 45.64% and a negative return on equity of 47.88%. The company had revenue of $136.31 million during the quarter, compared to the consensus estimate of $131.08 million. The company's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities analysts forecast that OneStream, Inc. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating and set a $29.00 price objective (up previously from $27.00) on shares of OneStream in a research report on Wednesday, July 16th. Wedbush lowered their price objective on shares of OneStream from $40.00 to $35.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Morgan Stanley lowered their price objective on shares of OneStream from $34.00 to $27.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Mizuho increased their price objective on shares of OneStream from $30.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Bank of America increased their price objective on shares of OneStream from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.05.

OneStream Profile

OneStream, Inc is a holding company, which engages in the development of an artificial intelligence (AI) based enterprise finance platform. The firm offers Digital Finance Cloud, an AI-enabled and extensible software platform that unifies core financial functions and operational data and processes. The company was founded by Craig Colby and Thomas Shea on October 15, 2021 and is headquartered in Birmingham, MI.