Onespan Inc $OSPN Shares Sold by Lynrock Lake LP

Lynrock Lake LP decreased its stake in shares of Onespan Inc (NASDAQ:OSPN) by 54.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,053 shares of the company’s stock after selling 199,713 shares during the quarter. Onespan comprises 0.2% of Lynrock Lake LP’s holdings, making the stock its 20th largest position. Lynrock Lake LP owned 0.44% of Onespan worth $2,548,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in OSPN. Comerica Bank lifted its position in Onespan by 455.2% during the first quarter. Comerica Bank now owns 2,465 shares of the company’s stock worth $38,000 after buying an additional 2,021 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Onespan during the first quarter worth approximately $64,000. Meeder Asset Management Inc. lifted its position in Onespan by 14.6% during the first quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company’s stock worth $94,000 after buying an additional 783 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in Onespan during the fourth quarter worth approximately $147,000. Finally, MQS Management LLC purchased a new position in Onespan during the first quarter worth approximately $158,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. B. Riley assumed coverage on Onespan in a research report on Tuesday, August 26th. They set a “buy” rating and a $23.00 price objective on the stock. Wall Street Zen lowered Onespan from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Rosenblatt Securities lowered their price objective on Onespan from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Onespan has a consensus rating of “Buy” and a consensus price target of $19.67.

Onespan Stock Performance

Shares of Onespan stock opened at $15.13 on Tuesday. The firm has a market capitalization of $579.93 million, a price-to-earnings ratio of 10.02 and a beta of 1.30. Onespan Inc has a fifty-two week low of $12.51 and a fifty-two week high of $20.36. The stock has a 50 day moving average of $15.20 and a 200 day moving average of $15.58.

Onespan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.2%. Onespan’s payout ratio is presently 31.79%.

Insider Buying and Selling

In other news, Director Garry L. Capers bought 2,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $13.07 per share, with a total value of $26,140.00. Following the completion of the transaction, the director directly owned 36,894 shares in the company, valued at $482,204.58. This trade represents a 5.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Zenner bought 2,200 shares of the business’s stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $12.80 per share, for a total transaction of $28,160.00. Following the transaction, the director owned 71,273 shares of the company’s stock, valued at $912,294.40. This trade represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Onespan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.