OneStream (NASDAQ:OS) Shares Gap Down - Should You Sell?

Shares of OneStream, Inc. (NASDAQ:OS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $28.30, but opened at $27.11. OneStream shares last traded at $26.67, with a volume of 558,569 shares changing hands.

Analyst Upgrades and Downgrades

OS has been the topic of several research analyst reports. Bank of America boosted their price target on OneStream from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. William Blair started coverage on OneStream in a report on Tuesday, May 20th. They issued an "outperform" rating on the stock. Morgan Stanley cut their price target on OneStream from $34.00 to $27.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Raymond James Financial reissued an "outperform" rating and issued a $29.00 price objective (down from $32.00) on shares of OneStream in a research note on Friday, May 9th. Finally, BNP Paribas began coverage on shares of OneStream in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $30.00 price target on the stock. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.19.

OneStream Stock Up 0.6%

The business has a 50 day simple moving average of $26.87 and a 200-day simple moving average of $25.58.

OneStream (NASDAQ:OS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.07. OneStream had a negative net margin of 45.64% and a negative return on equity of 47.88%. The business had revenue of $136.31 million for the quarter, compared to analysts' expectations of $131.08 million. OneStream's quarterly revenue was up 23.6% compared to the same quarter last year. Equities analysts predict that OneStream, Inc. will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Craig Colby sold 6,279 shares of OneStream stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $28.23, for a total value of $177,256.17. Following the transaction, the insider owned 212,885 shares in the company, valued at approximately $6,009,743.55. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Ken Hohenstein sold 20,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $27.67, for a total value of $553,400.00. Following the sale, the executive owned 1,009,443 shares of the company's stock, valued at $27,931,287.81. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,973 shares of company stock worth $4,984,158 over the last 90 days. Company insiders own 12.77% of the company's stock.

Hedge Funds Weigh In On OneStream

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of OneStream in the 4th quarter valued at $239,000. Charles Schwab Investment Management Inc. raised its position in OneStream by 54.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,138 shares of the company's stock valued at $7,277,000 after purchasing an additional 89,431 shares during the period. Arizona State Retirement System acquired a new position in shares of OneStream during the fourth quarter worth about $322,000. PNC Financial Services Group Inc. boosted its position in shares of OneStream by 57.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,090 shares of the company's stock worth $202,000 after buying an additional 2,600 shares during the period. Finally, King Luther Capital Management Corp grew its stake in shares of OneStream by 149.0% in the fourth quarter. King Luther Capital Management Corp now owns 224,068 shares of the company's stock valued at $6,390,000 after buying an additional 134,068 shares in the last quarter.

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.