Franklin Resources Inc. Invests $3.49 Million in Onestream, Inc. (NASDAQ:OS)

Franklin Resources Inc. purchased a new stake in shares of Onestream, Inc. (NASDAQ:OS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 102,969 shares of the company’s stock, valued at approximately $3,491,000.

Other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in Onestream in the third quarter worth $27,000. Point72 Asset Management L.P. purchased a new stake in Onestream in the 3rd quarter worth about $77,000. RiverPark Advisors LLC bought a new stake in Onestream in the 3rd quarter valued at about $92,000. HighTower Advisors LLC purchased a new stake in Onestream during the third quarter valued at about $222,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Onestream during the third quarter worth about $325,000.

Insiders Place Their Bets

In other news, major shareholder Kkr Group Partnership L.P. sold 6,376,411 shares of Onestream stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $29.99, for a total value of $191,228,565.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Burkland sold 63,608 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $31.00, for a total value of $1,971,848.00. The disclosure for this sale can be found here. Insiders sold a total of 7,699,787 shares of company stock valued at $230,912,230 over the last quarter.

Onestream Price Performance

OS opened at $29.10 on Wednesday. Onestream, Inc. has a 12-month low of $24.50 and a 12-month high of $35.39. The business has a 50-day moving average price of $30.81.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OS. Piper Sandler upped their price target on shares of Onestream from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Guggenheim increased their target price on Onestream from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird lifted their price target on Onestream from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wedbush initiated coverage on Onestream in a report on Thursday, December 19th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, Needham & Company LLC lifted their target price on Onestream from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, sixteen 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.83.

Onestream Profile

OneStream, Inc develops corporate performance management software solutions primarily to perform financial statement consolidation and planning and budgeting. Its solutions include financial close and consolidation that streamlines financial processes with capabilities designed to automate tasks and manage the complexity and standards of financial reporting and consolidation; financial and operational planning and analysis that enables financial and operational planning, budgeting, forecasting, and results analysis for individual business functions and the synchronization of plans across the entire organization; and financial and operational reporting that provides end-to-end visibility of analytics and key metrics to various stakeholders, including executives, Finance professionals, line-of-business leaders, and other business partners.