Metropolitan Life Insurance Co. NY reduced its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,310 shares of the software maker’s stock after selling 356 shares during the period. Metropolitan Life Insurance Co. NY owned 0.06% of Cornerstone OnDemand worth $1,334,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Weiss Multi Strategy Advisers LLC increased its stake in Cornerstone OnDemand by 27.4% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 70,087 shares of the software maker’s stock worth $2,726,000 after buying an additional 15,087 shares during the period. Karp Capital Management Corp purchased a new stake in Cornerstone OnDemand during the first quarter worth $355,000. Neuberger Berman Group LLC increased its stake in Cornerstone OnDemand by 7.1% in the first quarter. Neuberger Berman Group LLC now owns 7,685 shares of the software maker’s stock worth $299,000 after buying an additional 508 shares during the period. Guggenheim Capital LLC increased its stake in Cornerstone OnDemand by 36.6% in the fourth quarter. Guggenheim Capital LLC now owns 9,776 shares of the software maker’s stock worth $414,000 after buying an additional 2,617 shares during the period. Finally, Norges Bank purchased a new stake in Cornerstone OnDemand during the fourth quarter worth $11,655,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) traded up 0.09% during mid-day trading on Friday, reaching $34.22. 375,177 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $36.95 and a 200-day moving average of $38.44. Cornerstone OnDemand, Inc. has a 12 month low of $30.31 and a 12 month high of $47.75. The firm’s market cap is $1.97 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 182.51%. The firm had revenue of $116.70 million for the quarter, compared to analysts’ expectations of $117 million. Cornerstone OnDemand’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that Cornerstone OnDemand, Inc. will post $0.39 earnings per share for the current year.
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CSOD has been the subject of a number of analyst reports. Credit Suisse Group restated a “hold” rating and set a $43.00 price target on shares of Cornerstone OnDemand in a research note on Monday, May 15th. Wells Fargo & Company initiated coverage on shares of Cornerstone OnDemand in a research note on Thursday, May 11th. They set a “market perform” rating and a $37.00 price target for the company. BidaskClub cut shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Needham & Company LLC restated a “buy” rating and set a $48.00 price target on shares of Cornerstone OnDemand in a research note on Wednesday, May 3rd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $46.00 target price (down previously from $50.00) on shares of Cornerstone OnDemand in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cornerstone OnDemand has an average rating of “Hold” and an average price target of $44.43.
In other Cornerstone OnDemand news, Director R C. Mark Baker sold 1,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $36.91, for a total transaction of $36,910.00. Following the transaction, the director now owns 19,000 shares in the company, valued at approximately $701,290. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam L. Miller sold 30,000 shares of the company’s 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 transaction, the chief executive officer now owns 3,551,070 shares in the company, valued at approximately $144,493,038.30. The disclosure for this sale can be found here. Insiders have sold a total of 93,820 shares of company stock worth $3,517,894 in the last 90 days. Company insiders own 12.60% of the company’s stock.
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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