ARK Investment Management LLC boosted its holdings in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 194.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,027 shares of the software maker’s stock after acquiring an additional 17,181 shares during the period. ARK Investment Management LLC’s holdings in Cornerstone OnDemand were worth $930,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its holdings in Cornerstone OnDemand by 153.2% in the second quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock valued at $102,000 after acquiring an additional 1,739 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cornerstone OnDemand by 0.9% in the second quarter. Vanguard Group Inc. now owns 4,267,865 shares of the software maker’s stock valued at $152,575,000 after acquiring an additional 37,652 shares during the last quarter. Northern Trust Corp lifted its holdings in Cornerstone OnDemand by 4.6% in the second quarter. Northern Trust Corp now owns 672,594 shares of the software maker’s stock valued at $24,045,000 after acquiring an additional 29,676 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Cornerstone OnDemand by 7.4% in the second quarter. New York State Common Retirement Fund now owns 59,560 shares of the software maker’s stock valued at $2,129,000 after acquiring an additional 4,099 shares during the last quarter. Finally, Profund Advisors LLC lifted its holdings in Cornerstone OnDemand by 30.4% in the second quarter. Profund Advisors LLC now owns 34,195 shares of the software maker’s stock valued at $1,222,000 after acquiring an additional 7,971 shares during the last quarter. Hedge funds and other institutional investors own 91.65% of the company’s stock.

CSOD has been the topic of a number of recent analyst reports. Barclays PLC cut Cornerstone OnDemand from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $46.00 to $32.00 in a report on Tuesday, June 20th. BidaskClub cut Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Needham & Company LLC upgraded Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Friday, July 14th. Credit Suisse Group upgraded Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $49.00 in a report on Wednesday, July 19th. Finally, B. Riley reiterated a “buy” rating and issued a $47.00 price objective on shares of Cornerstone OnDemand in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.69.

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In related news, CEO Adam L. Miller sold 24,000 shares of Cornerstone OnDemand stock in a transaction on Monday, September 18th. The shares were sold at an average price of $41.28, for a total transaction of $990,720.00. Following the transaction, the chief executive officer now owns 3,539,587 shares in the company, valued at approximately $146,114,151.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R C. Mark Baker sold 1,000 shares of Cornerstone OnDemand stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.12, for a total transaction of $34,120.00. Following the transaction, the director now owns 23,850 shares in the company, valued at approximately $813,762. The disclosure for this sale can be found here. Insiders have sold a total of 119,820 shares of company stock worth $4,585,824 in the last 90 days. Company insiders own 12.60% of the company’s stock.

Cornerstone OnDemand, Inc. (NASDAQ CSOD) traded down 1.68% during mid-day trading on Friday, hitting $38.60. The stock had a trading volume of 793,207 shares. The company has a 50 day moving average price of $35.81 and a 200-day moving average price of $37.46. Cornerstone OnDemand, Inc. has a one year low of $30.31 and a one year high of $47.32. The company’s market cap is $2.22 billion.

Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). The business had revenue of $116.70 million for the quarter, compared to analyst estimates of $117.00 million. Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 182.51%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts expect that Cornerstone OnDemand, Inc. will post $0.39 earnings per share for the current fiscal year.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc is a cloud computing company. The Company provides learning and human capital management software, delivered as Software-as-a-Service (SaaS). Its human capital management platform combines the talent management solutions with analytics and human resources (HR) administration solutions to enable organizations to manage the employee lifecycle.

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Institutional Ownership by Quarter for Cornerstone OnDemand (NASDAQ:CSOD)

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