Onestream (NASDAQ:OS) Stock Price Down 5.7% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OS. Robert W. Baird lifted their target price on shares of Onestream from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James lifted their price target on Onestream from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC increased their price objective on Onestream from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. began coverage on shares of Onestream in a research note on Monday, August 19th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Onestream in a research report on Wednesday. They issued a “buy” rating and a $37.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.59.

Onestream Price Performance

The firm’s fifty day simple moving average is $30.89.

Insider Transactions at Onestream

In other Onestream news, Director Michael Burkland sold 63,608 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $31.00, for a total transaction of $1,971,848.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $28,684,295.38. The disclosure for this sale can be found here. Insiders have sold a total of 7,406,022 shares of company stock valued at $222,180,480 over the last ninety days.

Institutional Investors Weigh In On Onestream

Hedge funds and other institutional investors have recently made changes to their positions in the company. TimesSquare Capital Management LLC bought a new position in Onestream in the third quarter valued at approximately $67,746,000. Temasek Holdings Private Ltd bought a new position in shares of Onestream during the third quarter valued at $37,290,000. Soros Fund Management LLC bought a new position in Onestream during the third quarter worth $33,900,000. FMR LLC bought a new position in shares of Onestream during the 3rd quarter worth about $29,381,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Onestream in the 3rd quarter worth about $26,493,000.

About Onestream

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.