Falcon Point Capital LLC Reduces Position in Cornerstone OnDemand, Inc. (NASDAQ:CSOD)
Falcon Point Capital LLC lowered its position in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,749 shares of the software maker’s stock after selling 13,339 shares during the period. Cornerstone OnDemand comprises approximately 1.9% of Falcon Point Capital LLC’s portfolio, making the stock its 23rd largest position. Falcon Point Capital LLC’s holdings in Cornerstone OnDemand were worth $13,898,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSOD. Ameritas Investment Partners Inc. acquired a new position in Cornerstone OnDemand during the first quarter worth about $169,000. Gradient Investments LLC purchased a new position in shares of Cornerstone OnDemand during the second quarter worth $177,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Cornerstone OnDemand during the first quarter worth $219,000. Engineers Gate Manager LP purchased a new position in shares of Cornerstone OnDemand during the first quarter worth $237,000. Finally, Principal Financial Group Inc. increased its position in shares of Cornerstone OnDemand by 1.3% in the first quarter. Principal Financial Group Inc. now owns 7,211 shares of the software maker’s stock worth $280,000 after buying an additional 96 shares during the period. Institutional investors own 90.52% of the company’s stock.
Shares of Cornerstone OnDemand, Inc. (NASDAQ CSOD) opened at 34.09 on Friday. The stock’s market cap is $1.96 billion. The stock’s 50 day moving average is $37.26 and its 200-day moving average is $38.69. Cornerstone OnDemand, Inc. has a 1-year low of $30.31 and a 1-year high of $47.75.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Thursday, August 3rd. The software maker reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $116.70 million for the quarter, compared to analyst estimates of $117 million. Cornerstone OnDemand had a negative return on equity of 182.51% and a negative net margin of 15.39%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Cornerstone OnDemand, Inc. will post $0.39 EPS for the current fiscal year.
A number of brokerages have weighed in on CSOD. Zacks Investment Research downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and issued a $47.00 price objective on shares of Cornerstone OnDemand in a research report on Wednesday. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Cornerstone OnDemand in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Cornerstone OnDemand in a research report on Friday, August 4th. Finally, Credit Suisse Group upgraded shares of Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $43.00 to $49.00 in a research report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.43.
In other Cornerstone OnDemand news, CEO Adam L. Miller sold 30,000 shares of Cornerstone OnDemand stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $40.69, for a total transaction of $1,220,700.00. Following the completion of the transaction, the chief executive officer now owns 3,551,070 shares in the company, valued at $144,493,038.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kirsten Maas Helvey sold 10,940 shares of Cornerstone OnDemand stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $34.11, for a total transaction of $373,163.40. Following the transaction, the chief operating officer now owns 78,842 shares of the company’s stock, valued at approximately $2,689,300.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,820 shares of company stock valued at $3,668,934. 12.60% of the stock is currently owned by company insiders.
Cornerstone OnDemand Company Profile
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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