Colby Craig, President and a significant shareholder of OneStream, Inc. (NASDAQ:OS), recently executed a series of transactions involving the company's Class A Common Stock, according to a regulatory filing. On December 13, Craig sold a total of 280,000 shares, generating approximately $8.3 million. The sales were made at prices ranging from $29.47 to $30.40 per share. The company, currently valued at $7.1 billion, has attracted positive analyst attention, with six analysts recently revising their earnings estimates upward according to InvestingPro data.
In addition to these sales, Craig also acquired 280,000 shares through stock option exercises at a price of $10.65 per share, amounting to a total acquisition value of approximately $2.98 million. These transactions were part of a pre-established trading plan under Rule 10b5-1, which allows insiders to set up a predetermined plan to sell shares at a future date. The company maintains strong financial health with a current ratio of 2.45, indicating solid liquidity, and holds more cash than debt on its balance sheet.
Following these transactions, Craig's direct ownership of OneStream shares has changed significantly. Prior to the sales, Craig held 280,000 shares directly, but after the transactions, he no longer holds any directly owned shares. However, he maintains indirect ownership through CCICU Corp., where he is the sole owner and maintains control.
These moves come as Craig continues to manage his holdings in OneStream, reflecting both his ongoing involvement with the company and strategic financial planning.
In other recent news, OneStream Inc. has shown strong performance with significant revenue growth and high retention rates, according to Goldman Sachs. The company generated revenue of $459.5 million in the last twelve months, maintaining a healthy gross profit margin of 63.9%. In addition, OneStream has announced a proposed underwritten public offering of 15 million shares of its Class A common stock, with the proceeds from its shares intended to purchase LLC units from KKR Dream Holdings LLC.
Positive financial assessments have also been made by Piper Sandler, which maintained an Overweight rating while raising the price target to $37, following OneStream's recent quarter results. The company's subscription growth rate hit 39%, surpassing the estimated 35%, and another seven-figure contract was secured. BMO Capital initiated coverage with an Outperform rating, emphasizing OneStream's potential for market share growth, robust capabilities in data management, consolidation, and artificial intelligence/machine learning.
The company's consistent revenue growth and high retention rates since the fiscal year 2023, despite a challenging operating environment for software companies, are indicative of the robustness of the company's core CPM offerings. These recent developments in OneStream Inc.'s financial performance and market position are key insights for investors.
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