Onespan (NASDAQ:OSPN) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Onespan's stock has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen.
• Rosenblatt Securities has revised its price target for Onespan from $20.00 to $17.00 while maintaining a "buy" rating.
• Institutional investors and hedge funds own 95.52% of Onespan's stock, indicating strong institutional support.

Onespan (NASDAQ:OSPN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Separately, Rosenblatt Securities dropped their price objective on Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday.

Onespan Stock Performance

OSPN opened at $12.91 on Friday. Onespan has a one year low of $12.51 and a one year high of $20.36. The stock's fifty day moving average is $15.77 and its 200-day moving average is $16.21. The company has a market capitalization of $494.84 million, a PE ratio of 8.55 and a beta of 1.12.

Insiders Place Their Bets

In related news, Director Garry L. Capers bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the acquisition, the director directly owned 36,894 shares of the company's stock, valued at $482,204.58. The trade was a 5.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marc Zenner bought 2,200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the completion of the acquisition, the director directly owned 71,273 shares in the company, valued at approximately $912,294.40. The trade was a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Onespan

A number of hedge funds have recently modified their holdings of OSPN. Copeland Capital Management LLC grew its holdings in shares of Onespan by 16.4% during the second quarter. Copeland Capital Management LLC now owns 4,920 shares of the company's stock valued at $82,000 after buying an additional 692 shares in the last quarter. Meeder Asset Management Inc. raised its position in Onespan by 14.6% during the first quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company's stock valued at $94,000 after buying an additional 783 shares during the period. California State Teachers Retirement System raised its position in Onespan by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 33,769 shares of the company's stock valued at $626,000 after buying an additional 1,288 shares during the period. Comerica Bank raised its position in Onespan by 455.2% during the first quarter. Comerica Bank now owns 2,465 shares of the company's stock valued at $38,000 after buying an additional 2,021 shares during the period. Finally, Range Financial Group LLC raised its position in Onespan by 2.6% during the second quarter. Range Financial Group LLC now owns 107,162 shares of the company's stock valued at $1,789,000 after buying an additional 2,719 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Onespan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.

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