Renaissance Capital LLC Reduces Stock Position in Onestream, Inc. (NASDAQ:OS)

Renaissance Capital LLC cut its stake in Onestream, Inc. (NASDAQ:OS) by 17.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,564 shares of the company’s stock after selling 17,326 shares during the period. Onestream makes up approximately 1.4% of Renaissance Capital LLC’s holdings, making the stock its 22nd largest holding. Renaissance Capital LLC’s holdings in Onestream were worth $1,783,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Onestream by 5,118.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,596,879 shares of the company’s stock worth $45,543,000 after acquiring an additional 1,566,276 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Onestream by 3.4% in the 4th quarter. First Trust Advisors LP now owns 52,078 shares of the company’s stock valued at $1,485,000 after acquiring an additional 1,731 shares during the period. Northern Trust Corp raised its stake in shares of Onestream by 75.1% in the 4th quarter. Northern Trust Corp now owns 100,109 shares of the company’s stock valued at $2,855,000 after acquiring an additional 42,923 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of 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 acquiring an additional 2,600 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Onestream in the 4th quarter valued at $242,000.

Onestream Stock Down 0.5%

Shares of OS opened at $28.92 on Friday. Onestream, Inc. has a twelve month low of $16.69 and a twelve month high of $35.39. The firm’s 50 day moving average price is $23.81 and its two-hundred day moving average price is $25.98.

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

Analysts Set New Price Targets

OS has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Onestream in a research note on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Onestream in a research note on Wednesday, February 12th. Stephens upped their price target on shares of Onestream from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. BNP Paribas started coverage on shares of Onestream in a research note on Tuesday, April 22nd. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Mizuho boosted their target price on shares of Onestream from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.19.

Insider Activity

In related news, CFO William A. Koefoed sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $28.76, for a total transaction of $719,000.00. Following the completion of the sale, the chief financial officer now owns 253,694 shares of the company’s stock, valued at $7,296,239.44. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Kinzer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was 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 have sold 85,000 shares of company stock worth $2,083,600 over the last ninety days. Insiders own 12.77% of the company’s stock.

Onestream Profile

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.