272 Capital LP Takes $1.66 Million Position in OneSpan Inc. (NASDAQ:OSPN)

272 Capital LP purchased a new stake in OneSpan Inc. (NASDAQ:OSPN) in the 3rd quarter, Holdings Channel reports. The fund purchased 99,525 shares of the company’s stock, valued at approximately $1,659,000.

Several other hedge funds have also modified their holdings of the business. Quarry LP increased its stake in OneSpan by 860.4% in the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after purchasing an additional 1,936 shares in the last quarter. Quest Partners LLC increased its position in OneSpan by 2,952.6% during the second quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after buying an additional 2,303 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in OneSpan during the second quarter worth $41,000. Covestor Ltd purchased a new position in OneSpan during the third quarter worth $65,000. Finally, Point72 Asset Management L.P. purchased a new position in OneSpan during the second quarter worth $74,000. 95.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OSPN has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of OneSpan in a research note on Monday, October 28th. StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Sidoti upgraded OneSpan from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.00 to $19.00 in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, OneSpan currently has a consensus rating of “Buy” and an average target price of $17.13.

Insider Transactions at OneSpan

In related news, Director Michael J. Mcconnell sold 53,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.51, for a total value of $981,030.00. Following the completion of the transaction, the director now owns 20,849 shares of the company’s stock, valued at approximately $385,914.99. This represents a 71.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

OneSpan Trading Up 1.3 %

OSPN stock opened at $19.13 on Friday. The stock has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $15.17. OneSpan Inc. has a 12-month low of $9.22 and a 12-month high of $19.28. The company has a market cap of $726.75 million, a PE ratio of 25.85 and a beta of 0.77.

OneSpan 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.