Onestream (NASDAQ:OS) Shares Gap Up - Here's Why

Shares of Onestream, Inc. (NASDAQ:OS - Get Free Report) 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 traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OS. Wedbush initiated coverage on shares of Onestream in a report on Thursday, December 19th. They issued an "outperform" rating and a $40.00 price objective for the company. Robert W. Baird lifted their target price on Onestream from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Citigroup lowered their price objective on Onestream from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday. Piper Sandler increased their target price on shares of Onestream from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised shares of Onestream from an "equal weight" rating to an "overweight" rating and set a $37.00 price objective on the stock in a research note on Thursday. One equities research 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, Onestream presently has a consensus rating of "Buy" and a consensus price target of $35.72.

Onestream Trading Down 0.5 %

The firm has a fifty day moving average price of $29.90.

Insider Buying and Selling

In other news, CFO William A. Koefoed sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.57, for a total transaction of $265,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Burkland sold 63,608 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $31.00, for a total transaction of $1,971,848.00. The disclosure for this sale can be found here. Insiders sold a total of 7,709,787 shares of company stock worth $231,177,930 over the last ninety days.

Hedge Funds Weigh In On Onestream

A number of hedge funds and other institutional investors have recently made changes to their positions in OS. Renaissance Capital LLC bought a new position in shares of Onestream during the third quarter valued at $1,032,000. Geode Capital Management LLC bought a new stake in Onestream in the 3rd quarter worth about $10,331,000. US Bancorp DE bought a new stake in shares of Onestream in the third quarter worth approximately $569,000. Diversified Trust Co purchased a new stake in Onestream during the 4th quarter valued at $1,004,000. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Onestream in the 3rd quarter worth $37,290,000.

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.