OneSpan Inc. (NASDAQ:OSPN) Director Michael J. Mcconnell Sells 53,000 Shares

OneSpan Inc. (NASDAQ:OSPN) Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.51, for a total transaction of $981,030.00. Following the transaction, the director now directly owns 20,849 shares in the company, valued at $385,914.99. This represents a 71.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

OneSpan Trading Up 1.8 %

OSPN traded up $0.33 during trading hours on Tuesday, hitting $18.83. The company’s stock had a trading volume of 541,383 shares, compared to its average volume of 401,550. The business’s 50-day moving average price is $16.30 and its 200-day moving average price is $14.87. OneSpan Inc. has a 12 month low of $9.22 and a 12 month high of $19.08. The stock has a market cap of $715.35 million, a price-to-earnings ratio of 25.42 and a beta of 0.77.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its position in OneSpan by 0.3% during the third quarter. Essex Investment Management Co. LLC now owns 256,029 shares of the company’s stock valued at $4,268,000 after acquiring an additional 681 shares during the last quarter. Meeder Asset Management Inc. increased its position in OneSpan by 6.8% during the third quarter. Meeder Asset Management Inc. now owns 13,867 shares of the company’s stock valued at $231,000 after acquiring an additional 884 shares during the last quarter. Victory Capital Management Inc. increased its position in OneSpan by 2.5% during the second quarter. Victory Capital Management Inc. now owns 58,400 shares of the company’s stock valued at $749,000 after acquiring an additional 1,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in OneSpan by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,385 shares of the company’s stock valued at $598,000 after acquiring an additional 1,706 shares during the last quarter. Finally, Quarry LP increased its position in OneSpan by 860.4% during the second quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after acquiring an additional 1,936 shares during the last quarter. Institutional investors own 95.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com raised shares of OneSpan from a “buy” rating to a “strong-buy” rating in a report on Monday, November 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of OneSpan in a report on Monday, October 28th. Finally, Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $19.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.13.

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.