OneStream director Jonathan Mariner sells $1.19 million in stock

Jonathan D. Mariner, a director at OneStream, Inc. (NASDAQ:OS), has recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Mariner sold a total of 38,397 shares of OneStream's Class A Common Stock on November 18, 2024. The shares were sold at a price of $31 each, totaling approximately $1.19 million.

The transactions involved two separate sales: one for 33,156 shares and another for 5,241 shares. The shares were sold as part of an underwritten public offering, as previously disclosed in OneStream's prospectus dated November 14, 2024. After accounting for underwriting discounts and commissions, the net price per share was approximately $29.9925.

Following these transactions, Mariner no longer holds any shares directly in OneStream. However, a portion of the shares was held indirectly through the Jonathan D. Mariner Revocable Trust. The trust arrangement allows Mariner to maintain voting and dispositive power over the securities, as noted in the filing.

These sales come after a series of conversions and redemptions involving Class D Common Stock, which Mariner elected to convert into Class A Common Stock on a 1:1 basis. The conversions were part of a broader strategy to manage his equity holdings within OneStream.

Investors will be watching closely to see how these transactions impact the company's stock performance and Mariner's future involvement with OneStream.

In other recent news, OneStream Inc. announced a proposed underwritten public offering of 15 million shares of its Class A common stock. The offering includes shares from both selling stockholders and OneStream. Morgan Stanley (NYSE:MS), J.P. Morgan, and KKR are leading the offering. In terms of financial performance, OneStream's recent quarter results showed a 4% top-line beat and a $1 million increase in the forecast for the fourth quarter.

Additionally, the company's subscription growth rate hit 39%, surpassing the estimated 35%. In response to these developments, firms like Piper Sandler, BMO Capital, and TD Cowen have expressed confidence in OneStream's growth trajectory. Piper Sandler maintained an Overweight rating while raising the price target to $37, and BMO Capital initiated coverage with an Outperform rating. TD Cowen maintained its Buy rating on OneStream, highlighting the company's solid growth trends.

These are recent developments and investors are advised to focus on OneStream's performance relative to the upcoming quarter and full year's estimates to gauge the company's progress.

InvestingPro Insights

In light of Jonathan D. Mariner's recent stock sale, it's worth examining OneStream's current financial position and market performance. According to InvestingPro data, OneStream's market capitalization stands at $7.07 billion, reflecting its significant presence in the tech sector.

The company's revenue growth remains robust, with a 20.69% increase reported in the most recent quarter. This growth trajectory aligns with an InvestingPro Tip indicating that six analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for OneStream's financial performance.

Despite the recent insider sale, OneStream's stock has shown resilience, with a 12.59% price total return over the past year. However, an InvestingPro Tip notes that the stock has taken a big hit over the last week, with a 9.76% decline, which may present a potential entry point for investors who believe in the company's long-term prospects.

It's important to note that OneStream is not currently profitable, with a negative P/E ratio of -26.38 for the last twelve months. This aligns with another InvestingPro Tip stating that the company has not been profitable over the last twelve months. However, analysts predict that OneStream will turn profitable this year, which could be a significant catalyst for the stock.

For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. There are 5 more InvestingPro Tips available for OneStream, which could provide valuable context for understanding the company's financial health and market position.

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