Onestream (NASDAQ:OS) Trading Down 5.7% – What’s Next?

Onestream, Inc. (NASDAQ:OS)’s share price dropped 5.7% during mid-day trading on Friday . The company traded as low as $29.08 and last traded at $29.18. Approximately 1,133,600 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 834,926 shares. The stock had previously closed at $30.96.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup began coverage on shares of Onestream in a report on Monday, August 19th. They set a “neutral” rating and a $34.00 price target for the company. Wolfe Research assumed coverage on Onestream in a research report on Monday, August 19th. They set an “outperform” rating and a $32.00 price target for the company. Morgan Stanley lifted their price objective on Onestream from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Bank of America upped their target price on Onestream from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Piper Sandler lifted their price target on shares of Onestream from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Onestream currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.59.

Onestream Price Performance

The stock’s 50-day simple moving average is $30.89.

Insider Buying and Selling

In related news, major shareholder Kkr Group Partnership L.P. sold 956,462 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.99, for a total value of $28,684,295.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Burkland sold 9,541 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $31.00, for a total transaction of $295,771.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,406,022 shares of company stock valued at $222,180,480.

Hedge Funds Weigh In On Onestream

Large investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC purchased a new position in shares of Onestream during the third quarter valued at approximately $67,746,000. Temasek Holdings Private Ltd purchased a new position in Onestream in the 3rd quarter worth about $37,290,000. Soros Fund Management LLC purchased a new stake in Onestream in the 3rd quarter valued at about $33,900,000. FMR LLC purchased a new position in shares of Onestream during the third quarter worth approximately $29,381,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Onestream during the third quarter valued at approximately $26,493,000.

Onestream Company Profile

OneStream, Inc develops corporate performance management software solutions primarily to perform financial statement consolidation and planning and budgeting. Its solutions include financial close and consolidation that streamlines financial processes with capabilities designed to automate tasks and manage the complexity and standards of financial reporting and consolidation; financial and operational planning and analysis that enables financial and operational planning, budgeting, forecasting, and results analysis for individual business functions and the synchronization of plans across the entire organization; and financial and operational reporting that provides end-to-end visibility of analytics and key metrics to various stakeholders, including executives, Finance professionals, line-of-business leaders, and other business partners.