Covalis Capital LLP Takes Position in Onestream, Inc. (NASDAQ:OS)

Covalis Capital LLP purchased a new position in shares of Onestream, Inc. (NASDAQ:OS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 85,000 shares of the company’s stock, valued at approximately $2,424,000.

A number of other hedge funds have also recently added to or reduced their stakes in OS. SG Americas Securities LLC purchased a new position in shares of Onestream in the fourth quarter worth about $166,000. IFP Advisors Inc acquired a new position in Onestream in the fourth quarter valued at about $168,000. Moody National Bank Trust Division acquired a new stake in shares of Onestream during the fourth quarter valued at about $200,000. PNC Financial Services Group Inc. increased its holdings in Onestream by 57.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,090 shares of the company’s stock valued at $202,000 after purchasing an additional 2,600 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Onestream during the fourth quarter worth $214,000.

Wall Street Analyst Weigh In

OS has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Onestream from $34.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on Onestream from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. downgraded shares of Onestream from an “overweight” rating to a “neutral” rating and cut their target price for the company from $30.00 to $26.00 in a research note on Wednesday, February 12th. Stephens initiated coverage on shares of Onestream in a research report on Wednesday, March 19th. They set an “overweight” rating and a $27.00 target price on the stock. Finally, BMO Capital Markets lowered their price target on Onestream from $38.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.47.

Insider Activity

In other news, Director John Kinzer sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $20.28, for a total transaction of $811,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William A. Koefoed sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $25.04, for a total transaction of $250,400.00. The disclosure for this sale can be found here.

Onestream Price Performance

OS stock opened at $19.66 on Friday. Onestream, Inc. has a fifty-two week low of $16.69 and a fifty-two week high of $35.39. The business’s 50-day moving average is $22.00 and its two-hundred day moving average is $27.27.

Onestream (NASDAQ:OS) last released its earnings results on Tuesday, February 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. Equities research analysts forecast that Onestream, Inc. will post 0.05 earnings per share for the current fiscal year.

About Onestream

OneStream, Inc is a holding company, which engages in the development of 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. Its platform focuses on forming a comprehensive, dynamic, and predictive view of the entire enterprise, providing corporate leaders with the control, visibility, and agility required to proactively adjust business strategy and day-to-day execution.