OneStream (NASDAQ:OS) Shares Gap Down Following Analyst Downgrade

Key Points

• OneStream's shares gapped down before trading, falling from a previous close of $22.22 to an opening of $20.77 after Mizuho downgraded their price target from $33.00 to $30.00.
• The company currently holds a "Moderate Buy" rating with an average price target of $31.38, amidst various analyst ratings ranging from "neutral" to "buy."
• Major shareholders, including CFO William A. Koefoed, sold significant amounts of stock recently, indicating potential concerns about the company's outlook.

OneStream, Inc. (NASDAQ:OS - Get Free Report)'s share price gapped down prior to trading on Friday after Mizuho lowered their price target on the stock from $33.00 to $30.00. The stock had previously closed at $22.22, but opened at $20.77. Mizuho currently has an outperform rating on the stock. OneStream shares last traded at $19.93, with a volume of 642,117 shares traded.

Several other analysts also recently weighed in on OS. Citigroup reiterated a "neutral" rating and set a $29.00 target price (up from $27.00) on shares of OneStream in a research note on Wednesday, July 16th. Wedbush lowered their price objective on OneStream from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Friday, May 9th. BMO Capital Markets reduced their target price on OneStream from $33.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley dropped their target price 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. Finally, Bank of America lifted their price target on shares of OneStream from $29.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $31.38.

Insider Buying and Selling at OneStream

In other OneStream news, major shareholder Craig Colby sold 6,279 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $28.23, for a total transaction of $177,256.17. Following the completion of the transaction, the insider directly owned 212,885 shares of the company's stock, valued at approximately $6,009,743.55. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William A. Koefoed sold 25,000 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the completion of the sale, the chief financial officer directly owned 237,839 shares of the company's stock, valued at approximately $5,945,975. This trade represents a 9.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,973 shares of company stock valued at $5,300,358 over the last three months. Insiders own 12.77% of the company's stock.

Institutional Trading of OneStream

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its stake in shares of OneStream by 0.3% in the first quarter. Primecap Management Co. CA now owns 145,100 shares of the company's stock worth $3,096,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System increased its position in OneStream by 4.0% during the 1st quarter. Arizona State Retirement System now owns 11,732 shares of the company's stock valued at $250,000 after purchasing an additional 454 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of OneStream by 44.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,610 shares of the company's stock valued at $46,000 after purchasing an additional 499 shares in the last quarter. IFP Advisors Inc lifted its position in shares of OneStream by 10.6% in the 1st quarter. IFP Advisors Inc now owns 6,506 shares of the company's stock worth $139,000 after purchasing an additional 624 shares during the period. Finally, Norden Group LLC boosted its stake in shares of OneStream by 3.7% during the first quarter. Norden Group LLC now owns 21,906 shares of the company's stock valued at $467,000 after purchasing an additional 788 shares in the last quarter.

OneStream Stock Down 12.4%

The stock's fifty day simple moving average is $26.39 and its 200 day simple moving average is $24.97.

OneStream (NASDAQ:OS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $147.59 million during the quarter, compared to analysts' expectations of $141.10 million. OneStream had a negative return on equity of 47.88% and a negative net margin of 45.64%. OneStream's revenue was up 25.6% compared to the same quarter last year. On average, equities analysts predict that OneStream, Inc. will post 0.05 EPS for the current fiscal year.

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.

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