Onespan (NASDAQ:OSPN) Given New $17.00 Price Target at Rosenblatt Securities

Key Points

• Rosenblatt Securities has lowered its price target for OneSpan (NASDAQ: OSPN) from $20.00 to $17.00, indicating a potential upside of 22.39% from its current price.
• Shares of OneSpan recently traded down 3.0%, closing at $13.89, with the company experiencing notable changes in institutional investor positions during the fourth quarter.
• Wall Street Zen downgraded OneSpan's stock rating from "strong-buy" to "buy" as of May 22nd.

Onespan (NASDAQ:OSPN - Get Free Report) had its price objective lowered by research analysts at Rosenblatt Securities from $20.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Rosenblatt Securities' target price indicates a potential upside of 31.68% from the stock's previous close.

Separately, Wall Street Zen downgraded shares of Onespan from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd.

Onespan Price Performance

Shares of Onespan stock traded up $0.20 during midday trading on Wednesday, hitting $12.91. The company had a trading volume of 701,382 shares, compared to its average volume of 389,260. The business's 50 day simple moving average is $15.77 and its two-hundred day simple moving average is $16.16. The stock has a market cap of $494.84 million, a PE ratio of 8.55 and a beta of 1.12. Onespan has a 1-year low of $12.51 and a 1-year high of $20.36.

Insiders Place Their Bets

In other news, Director Garry L. Capers bought 2,000 shares of Onespan stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $13.07 per share, for a total transaction of $26,140.00. Following the purchase, the director owned 36,894 shares of the company's stock, valued at approximately $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marc Zenner bought 2,200 shares of Onespan stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the purchase, the director directly owned 71,273 shares in the company, valued at $912,294.40. This represents a 3.19% increase in their position. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Onespan

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Onespan in the 1st quarter valued at $195,000. Victory Capital Management Inc. boosted its stake in shares of Onespan by 49.3% in the 1st quarter. Victory Capital Management Inc. now owns 86,794 shares of the company's stock valued at $1,324,000 after purchasing an additional 28,660 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Onespan by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,561 shares of the company's stock valued at $395,000 after purchasing an additional 3,994 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Onespan by 1,501.9% in the 1st quarter. GAMMA Investing LLC now owns 42,563 shares of the company's stock valued at $649,000 after purchasing an additional 39,906 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Onespan by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,174 shares of the company's stock valued at $546,000 after purchasing an additional 12,332 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company's stock.

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.