Comerica Bank Grows Position in Onestream, Inc. (NASDAQ:OS)

Comerica Bank boosted its holdings in shares of Onestream, Inc. (NASDAQ:OS - Free Report) by 55.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,600 shares of the company's stock after acquiring an additional 24,120 shares during the period. Comerica Bank's holdings in Onestream were worth $1,928,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Voleon Capital Management LP bought a new position in Onestream during the 4th quarter valued at about $1,247,000. Soros Fund Management LLC raised its holdings in shares of Onestream by 25.0% during the fourth quarter. Soros Fund Management LLC now owns 1,250,000 shares of the company's stock valued at $35,650,000 after purchasing an additional 250,000 shares during the last quarter. PDT Partners LLC bought a new position in Onestream during the fourth quarter valued at approximately $2,037,000. Schonfeld Strategic Advisors LLC purchased a new stake in Onestream in the fourth quarter worth approximately $242,000. Finally, Northern Trust Corp grew its position in Onestream by 75.1% in the 4th quarter. Northern Trust Corp now owns 100,109 shares of the company's stock worth $2,855,000 after purchasing an additional 42,923 shares during the period.

Onestream Trading Down 1.1%

OS traded down $0.32 during trading on Thursday, hitting $28.09. 542,810 shares of the stock were exchanged, compared to its average volume of 1,419,387. Onestream, Inc. has a 1 year low of $16.69 and a 1 year high of $35.39. The firm has a 50 day simple moving average of $21.62 and a 200 day simple moving average of $26.35.

Onestream (NASDAQ:OS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. The firm had revenue of $136.31 million during the quarter, compared to analyst estimates of $131.08 million. Onestream's revenue was up 23.6% compared to the same quarter last year. Analysts forecast that Onestream, Inc. will post 0.05 earnings per share for the current year.

Insider Activity

In related news, CFO William A. Koefoed sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $25.04, for a total transaction of $250,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Kinzer sold 40,000 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $20.28, for a total value of $811,200.00. The disclosure for this sale can be found here. Insiders own 12.77% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial cut their price objective on Onestream from $37.00 to $27.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wedbush lowered their price objective on shares of Onestream from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on shares of Onestream from $34.00 to $27.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Mizuho upped their target price on shares of Onestream from $30.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Piper Sandler lifted their price target on shares of Onestream from $24.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $32.10.

About Onestream

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.