Onespan (NASDAQ:OSPN) CFO Jorge Garcia Martell Sells 8,000 Shares of Company Stock

Key Points

• CFO Jorge Garcia Martell sold 8,000 OneSpan shares for $176,320 at an average price of $22.04, reducing his stake by 8.47% to 86,421 shares.
• OneSpan beat quarterly expectations, reporting EPS of $0.35 versus a $0.24 consensus and revenue of $63.89 million versus $57.43 million expected.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 2.4% yield; analysts’ average rating was “Hold,” with a $24 price target.

Onespan Inc (NASDAQ:OSPN - Get Free Report) CFO Jorge Martell sold 8,000 shares of Onespan stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $22.04, for a total value of $176,320.00. Following the completion of the transaction, the chief financial officer owned 86,421 shares of the company's stock, valued at approximately $1,904,718.84. This trade represents a 8.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Onespan Trading Down 3.0%

Shares of Onespan stock traded down $0.67 on Tuesday, hitting $21.92. 580,655 shares of the company traded hands, compared to its average volume of 583,925. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. The company has a market cap of $808.85 million, a PE ratio of 12.11, a PEG ratio of 1.99 and a beta of 1.52. The stock's 50 day moving average price is $18.70 and its 200-day moving average price is $14.40. Onespan Inc has a 52 week low of $10.07 and a 52 week high of $27.45.

Onespan (NASDAQ:OSPN - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. Onespan had a net margin of 27.52% and a return on equity of 15.96%. The firm had revenue of $63.89 million during the quarter, compared to analysts' expectations of $57.43 million. Equities research analysts predict that Onespan Inc will post 1.08 EPS for the current year.

Onespan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.4%. Onespan's dividend payout ratio is currently 28.73%.

Institutional Investors Weigh In On Onespan

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Onespan in the 2nd quarter valued at $59,607,000. Legal & General Group Plc acquired a new position in shares of Onespan during the second quarter worth about $31,248,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Onespan by 94.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,268,242 shares of the company's stock worth $13,355,000 after purchasing an additional 617,092 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Onespan in the second quarter worth about $7,272,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Onespan by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,464,524 shares of the company's stock worth $15,421,000 after buying an additional 349,648 shares during the period. 95.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OSPN has been the subject of several analyst reports. Wall Street Zen raised shares of Onespan from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson upped their price objective on Onespan from $16.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, October 30th. B. Riley Financial increased their price objective on Onespan from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Rosenblatt Securities cut Onespan from a "buy" rating to a "neutral" rating and set a $18.00 target price for the company. in a research note on Tuesday, October 27th. Finally, Weiss Ratings upgraded Onespan from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $24.00.

About Onespan

OneSpan Inc. NASDAQ: OSPN provides digital identity, authentication and electronic signature solutions for organizations that need to secure online transactions and interactions. Its technology is designed to help businesses verify users, protect accounts and transactions, and meet security and compliance requirements across digital channels. The company's offerings include DIGIPASS authentication products, mobile and hardware authenticators, transaction-signing tools, adaptive authentication and identity verification capabilities.

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