OneSpan (NASDAQ:OSPN) Trading Down 6.1% – Should You Sell?

OneSpan Inc. (NASDAQ:OSPN)’s share price dropped 6.1% during trading on Wednesday . The company traded as low as $18.61 and last traded at $18.59. Approximately 133,095 shares were traded during trading, a decline of 64% from the average daily volume of 371,024 shares. The stock had previously closed at $19.80.

Analyst Ratings Changes

OSPN has been the subject of a number of research analyst reports. Rosenblatt Securities raised their target price on OneSpan from $18.00 to $22.00 and gave the company a “buy” rating in a report on Monday, December 16th. StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a report on Monday, November 4th. Finally, Sidoti upgraded OneSpan from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $19.00 in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, OneSpan has a consensus rating of “Buy” and a consensus price target of $17.63.

OneSpan Stock Performance

The company has a market cap of $715.05 million, a price-to-earnings ratio of 25.41 and a beta of 0.77. The business has a 50-day simple moving average of $19.00 and a 200-day simple moving average of $17.15.

OneSpan Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.12 per share. The ex-dividend date was Friday, January 31st. OneSpan’s dividend payout ratio (DPR) is presently 64.86%.

Insider Transactions at OneSpan

In other news, Director Michael J. Mcconnell sold 53,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.51, for a total transaction of $981,030.00. Following the sale, the director now owns 20,849 shares of the company’s stock, valued at approximately $385,914.99. This trade represents a 71.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On OneSpan

Several hedge funds and other institutional investors have recently made changes to their positions in OSPN. CWM LLC grew its stake in shares of OneSpan by 68.2% in the 3rd quarter. CWM LLC now owns 10,499 shares of the company’s stock valued at $175,000 after purchasing an additional 4,258 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of OneSpan in the third quarter valued at $158,000. Assenagon Asset Management S.A. lifted its position in OneSpan by 113.4% during the third quarter. Assenagon Asset Management S.A. now owns 337,823 shares of the company’s stock worth $5,632,000 after buying an additional 179,497 shares during the period. Principal Financial Group Inc. purchased a new position in OneSpan during the third quarter worth about $312,000. Finally, Covestor Ltd purchased a new position in shares of OneSpan in the 3rd quarter worth about $65,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

About OneSpan

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.