Onespan (NASDAQ:OSPN) Rating Lowered to Hold at Wall Street Zen

Onespan (NASDAQ:OSPN) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts have also commented on the company. Rosenblatt Securities cut their price target on Onespan from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Onespan in a report on Wednesday, October 8th. DA Davidson decreased their price target on shares of Onespan from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, B. Riley began coverage on shares of Onespan in a research report on Tuesday, August 26th. They issued a “buy” rating and a $23.00 price target on the stock. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Onespan Stock Performance

OSPN opened at $11.40 on Friday. The business has a 50 day moving average price of $15.44 and a 200 day moving average price of $15.46. Onespan has a twelve month low of $11.00 and a twelve month high of $20.36. The firm has a market cap of $436.91 million, a P/E ratio of 7.55 and a beta of 1.32.

Insiders Place Their Bets

In other news, Director Marc Zenner bought 2,200 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $12.80 per share, for a total transaction of $28,160.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Garry L. Capers bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $13.07 per share, with a total value of $26,140.00. Following the completion of the purchase, the director directly owned 36,894 shares of the company’s stock, valued at $482,204.58. This represents a 5.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OSPN. State of Alaska Department of Revenue acquired a new position in shares of Onespan in the third quarter valued at $26,000. Comerica Bank grew its position in Onespan by 455.2% in the first quarter. Comerica Bank now owns 2,465 shares of the company’s stock valued at $38,000 after acquiring an additional 2,021 shares during the period. Copeland Capital Management LLC grew its position in Onespan by 16.4% in the second quarter. Copeland Capital Management LLC now owns 4,920 shares of the company’s stock valued at $82,000 after acquiring an additional 692 shares during the period. Tower Research Capital LLC TRC grew its position in Onespan by 289.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,133 shares of the company’s stock valued at $86,000 after acquiring an additional 3,816 shares during the period. Finally, Meeder Asset Management Inc. grew its position in Onespan by 14.6% in the first quarter. Meeder Asset Management Inc. now owns 6,164 shares of the company’s stock valued at $94,000 after acquiring an additional 783 shares during the period. 95.52% of the stock is currently owned by institutional investors and hedge funds.

About Onespan

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.