Stock Traders Purchase Large Volume of Put Options on Cornerstone OnDemand (CSOD)
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) saw some unusual options trading activity on Thursday. Investors purchased 3,162 put options on the company. This represents an increase of Infinity compared to the typical daily volume of 0 put options.
In other Cornerstone OnDemand 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 value of $990,720.00. Following the sale, the chief executive officer now directly owns 3,539,587 shares in the company, valued at approximately $146,114,151.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R C. Mark Baker sold 2,000 shares of Cornerstone OnDemand stock in a transaction on Friday, October 20th. The shares were sold at an average price of $39.88, for a total transaction of $79,760.00. Following the completion of the sale, the director now owns 25,850 shares in the company, valued at $1,030,898. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,000 shares of company stock worth $1,429,460. 12.60% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Quantbot Technologies LP grew its holdings in Cornerstone OnDemand by 153.2% during the 2nd quarter. Quantbot Technologies LP now owns 2,874 shares of the software maker’s stock valued at $102,000 after purchasing an additional 1,739 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Cornerstone OnDemand by 5.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after purchasing an additional 223 shares during the last quarter. Gradient Investments LLC bought a new position in Cornerstone OnDemand during the 2nd quarter valued at about $177,000. Oppenheimer Asset Management Inc. bought a new position in Cornerstone OnDemand during the 1st quarter valued at about $219,000. Finally, Trexquant Investment LP bought a new position in Cornerstone OnDemand during the 3rd quarter valued at about $230,000. Institutional investors own 91.43% of the company’s stock.
A number of analysts have issued reports on CSOD shares. Zacks Investment Research upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Piper Jaffray Companies downgraded shares of Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price target on the stock. in a report on Thursday, November 9th. KeyCorp reiterated a “hold” rating on shares of Cornerstone OnDemand in a report on Thursday, November 9th. BidaskClub upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Credit Suisse Group upgraded shares of Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $43.00 to $49.00 in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.56.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) opened at $34.76 on Tuesday. Cornerstone OnDemand has a fifty-two week low of $32.88 and a fifty-two week high of $44.25.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its earnings results on Wednesday, November 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $121.80 million for the quarter, compared to the consensus estimate of $118.95 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. research analysts anticipate that Cornerstone OnDemand will post -0.69 earnings per share for the current fiscal year.
Cornerstone OnDemand declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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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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