Onestream (NASDAQ:OS) Shares Gap Up – Here’s Why

Onestream, Inc. (NASDAQ:OS)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $27.93, but opened at $29.29. Onestream shares last traded at $29.15, with a volume of 184,676 shares changing hands.

Analysts Set New Price Targets

OS has been the topic of several recent analyst reports. Needham & Company LLC boosted their price target on Onestream from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Raymond James upped their target price on Onestream from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wedbush started coverage on shares of Onestream in a research report on Thursday, December 19th. They set an “outperform” rating and a $40.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Onestream in a report on Wednesday, December 11th. They issued a “buy” rating and a $37.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of Onestream from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $35.72.

Onestream Price Performance

The business’s 50-day moving average is $29.83.

Insider Transactions at Onestream

In other Onestream news, CFO William A. Koefoed sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $26.57, for a total transaction of $265,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Kkr Group Partnership L.P. sold 6,376,411 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $29.99, for a total transaction of $191,228,565.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,709,787 shares of company stock worth $231,177,930.

Institutional Trading of Onestream

A number of hedge funds and other institutional investors have recently made changes to their positions in OS. Renaissance Capital LLC purchased a new stake in shares of Onestream during the third quarter valued at $1,032,000. Seven Grand Managers LLC purchased a new stake in Onestream during the third quarter valued at about $6,780,000. Precision Wealth Strategies LLC acquired a new position in shares of Onestream in the third quarter worth about $338,000. Dakota Wealth Management purchased a new position in shares of Onestream in the third quarter worth approximately $2,412,000. Finally, US Bancorp DE acquired a new stake in shares of Onestream during the third quarter valued at approximately $569,000.

Onestream Company Profile

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.