Federated Hermes Inc. Raises Stock Holdings in OneStream, Inc. (NASDAQ:OS)

Key Points

• Federated Hermes Inc. has increased its stake in OneStream, Inc. by 70%, owning 850,000 shares valued at approximately $18.14 million as of the latest reporting period.
• Other major investors, including Champlain Investment Partners and Brown Advisory, have also significantly increased their holdings in OneStream, indicating strong institutional interest in the company.
• OneStream reported a quarterly earnings per share of $0.04, exceeding expectations, and revenue increased by 23.6% year-over-year, despite experiencing negative profit margins.

Federated Hermes Inc. boosted its stake in OneStream, Inc. (NASDAQ:OS - Free Report) by 70.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 850,000 shares of the company's stock after purchasing an additional 350,000 shares during the quarter. Federated Hermes Inc. owned about 0.36% of OneStream worth $18,139,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of OS. Rhumbline Advisers bought a new position in shares of OneStream in the first quarter valued at $35,000. IFP Advisors Inc lifted its stake in shares of OneStream by 10.6% in the first quarter. IFP Advisors Inc now owns 6,506 shares of the company's stock valued at $139,000 after buying an additional 624 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of OneStream in the fourth quarter valued at $214,000. Blue Trust Inc. lifted its stake in shares of OneStream by 4,980.0% in the first 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. Finally, Hsbc Holdings PLC bought a new position in shares of OneStream in the fourth quarter valued at $238,000.

OneStream Stock Performance

Shares of NASDAQ OS traded down $0.18 during mid-day trading on Tuesday, reaching $23.62. 890,537 shares of the company's stock were exchanged, compared to its average volume of 1,401,832. OneStream, Inc. has a 52-week low of $16.69 and a 52-week high of $35.39. The company's 50-day moving average is $26.71 and its 200-day moving average is $25.04.

OneStream (NASDAQ:OS - Get Free Report) last announced its earnings results 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 return on equity of 47.88% and a negative net margin of 45.64%. The company had revenue of $136.31 million during the quarter, compared to analysts' expectations of $131.08 million. OneStream's revenue for the quarter was up 23.6% compared to the same quarter last year. Equities analysts anticipate that OneStream, Inc. will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Thomas Anthony Shea sold 9,913 shares of OneStream stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $28.23, for a total value of $279,843.99. Following the completion of the transaction, the chief executive officer owned 496,854 shares in the company, valued at approximately $14,026,188.42. This trade represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $502,400.00. Following the sale, the executive directly owned 1,003,163 shares in the company, valued at $25,199,454.56. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,973 shares of company stock worth $5,300,358. 12.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OS shares. Bank of America lifted their target price on shares of OneStream from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. BMO Capital Markets lifted their target price on shares of OneStream from $29.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. BNP Paribas started coverage on shares of OneStream in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $30.00 target price for the company. Raymond James Financial reiterated an "outperform" rating and issued a $29.00 target price (down previously from $32.00) on shares of OneStream in a research note on Friday, May 9th. Finally, Mizuho raised their price objective on shares of OneStream from $30.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.05.

OneStream Company 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.