OneSpan (NASDAQ:OSPN) Hits New 52-Week High – Here’s What Happened

Shares of OneSpan Inc. (NASDAQ:OSPN) hit a new 52-week high during trading on Monday . The stock traded as high as $18.70 and last traded at $18.66, with a volume of 284352 shares trading hands. The stock had previously closed at $18.12.

Analysts Set New Price Targets

OSPN has been the topic of several recent analyst reports. Sidoti raised OneSpan from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $19.00 in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of OneSpan in a research note on Monday, October 28th. Finally, StockNews.com raised OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $17.13.

OneSpan Stock Performance

The company has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $14.91. The stock has a market cap of $700.92 million, a P/E ratio of 24.93 and a beta of 0.77.

Insider Buying and Selling at OneSpan

In other news, Director Michael J. Mcconnell sold 53,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $18.51, for a total transaction of $981,030.00. Following the completion of the sale, the director now owns 20,849 shares in the company, valued at $385,914.99. The trade was a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On OneSpan

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of OneSpan by 8.5% during the first quarter. Vanguard Group Inc. now owns 2,794,375 shares of the company’s stock worth $32,499,000 after purchasing an additional 219,907 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of OneSpan by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,385 shares of the company’s stock worth $598,000 after purchasing an additional 1,706 shares during the period. CWM LLC grew its stake in shares of OneSpan by 872.1% during the second quarter. CWM LLC now owns 6,241 shares of the company’s stock worth $80,000 after purchasing an additional 5,599 shares during the period. SG Americas Securities LLC acquired a new stake in shares of OneSpan during the second quarter worth $405,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of OneSpan by 293.2% during the second quarter. Assenagon Asset Management S.A. now owns 158,326 shares of the company’s stock worth $2,030,000 after purchasing an additional 118,061 shares during the period. Institutional investors own 95.52% of the company’s stock.

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.