Panagora Asset Management Inc. Sells 104,524 Shares of Onespan Inc (NASDAQ:OSPN)

Panagora Asset Management Inc. decreased its stake in shares of Onespan Inc (NASDAQ:OSPN) by 53.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 92,540 shares of the company’s stock after selling 104,524 shares during the period. Panagora Asset Management Inc. owned 0.23% of Onespan worth $1,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of Onespan by 0.6% in the first quarter. Rhumbline Advisers now owns 90,321 shares of the company’s stock worth $1,736,000 after buying an additional 572 shares in the last quarter. Comerica Bank increased its stake in Onespan by 2.4% in the 1st quarter. Comerica Bank now owns 31,095 shares of the company’s stock worth $585,000 after acquiring an additional 720 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Onespan by 3.7% in the 1st quarter. Texas Permanent School Fund now owns 21,303 shares of the company’s stock valued at $409,000 after acquiring an additional 755 shares in the last quarter. Swiss National Bank raised its holdings in shares of Onespan by 2.0% in the 2nd quarter. Swiss National Bank now owns 59,900 shares of the company’s stock valued at $849,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Onespan in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 68.17% of the company’s stock.

A number of equities research analysts recently weighed in on OSPN shares. Zacks Investment Research downgraded shares of Onespan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. ValuEngine raised shares of Onespan from a “hold” rating to a “buy” rating in a research note on Tuesday. Wedbush reissued a “hold” rating and issued a $17.00 price target on shares of Onespan in a report on Friday, July 26th. National Securities restated a “buy” rating and set a $23.00 price objective on shares of Onespan in a research report on Friday, July 26th. Finally, B. Riley initiated coverage on shares of Onespan in a research report on Tuesday, June 25th. They set a “buy” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.20.

Shares of Onespan stock traded up $0.43 during trading on Wednesday, hitting $16.22. 1,051 shares of the stock traded hands, compared to its average volume of 111,465. The company has a quick ratio of 2.56, a current ratio of 2.88 and a debt-to-equity ratio of 0.03. The stock has a market cap of $622.37 million, a price-to-earnings ratio of 44.50, a PEG ratio of 4.72 and a beta of 2.12. The firm’s fifty day moving average is $13.99 and its 200-day moving average is $16.03. Onespan Inc has a 52 week low of $11.41 and a 52 week high of $21.61.

Onespan (NASDAQ:OSPN) last released its earnings results on Thursday, July 25th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04). The firm had revenue of $56.20 million during the quarter, compared to the consensus estimate of $56.29 million. Onespan had a positive return on equity of 2.45% and a negative net margin of 2.30%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, analysts forecast that Onespan Inc will post 0.33 earnings per share for the current fiscal year.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

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Institutional Ownership by Quarter for Onespan (NASDAQ:OSPN)

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