West Paces Advisors Inc. Grows Position in Onestream, Inc. (NASDAQ:OS)

West Paces Advisors Inc. lifted its stake in Onestream, Inc. (NASDAQ:OS) by 212,670.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,108 shares of the company’s stock after buying an additional 85,068 shares during the quarter. West Paces Advisors Inc.’s holdings in Onestream were worth $1,816,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of OS. SG Americas Securities LLC bought a new stake in Onestream in the fourth quarter worth $166,000. Entropy Technologies LP bought a new stake in Onestream in the fourth quarter worth $747,000. Pembroke Management LTD bought a new stake in Onestream in the fourth quarter worth $2,785,000. New York State Common Retirement Fund increased its position in Onestream by 80.7% in the fourth quarter. New York State Common Retirement Fund now owns 26,581 shares of the company’s stock worth $758,000 after purchasing an additional 11,867 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in Onestream by 5.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 2,103,806 shares of the company’s stock worth $60,001,000 after purchasing an additional 105,403 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Onestream from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $26.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on shares of Onestream from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Piper Sandler boosted their price objective on shares of Onestream from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Guggenheim reiterated a “buy” rating and set a $35.00 price objective on shares of Onestream in a research report on Wednesday, February 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of Onestream in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.19.

Insider Buying and Selling

In other Onestream news, CRO Ken Hohenstein sold 20,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $27.67, for a total transaction of $553,400.00. Following the completion of the sale, the executive now directly owns 1,009,443 shares of the company’s stock, valued at approximately $27,931,287.81. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Kinzer sold 40,000 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $20.28, for a total transaction of $811,200.00. The disclosure for this sale can be found here. Insiders sold a total of 85,000 shares of company stock valued at $2,083,600 over the last three months. 12.77% of the stock is owned by company insiders.

Onestream Stock Performance

NASDAQ OS opened at $28.92 on Tuesday. The company’s 50-day moving average price is $23.94 and its 200-day moving average price is $25.90. Onestream, Inc. has a 12 month low of $16.69 and a 12 month high of $35.39.

Onestream (NASDAQ:OS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $136.31 million during the quarter, compared to the consensus estimate of $131.08 million. The business’s revenue was up 23.6% compared to the same quarter last year. As a group, equities research analysts expect that Onestream, Inc. will post 0.05 earnings per share for the current year.

About Onestream

OneStream, Inc is a holding company, which engages in the development of an 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. The company was founded by Craig Colby and Thomas Shea on October 15, 2021 and is headquartered in Birmingham, MI.