Onestream reports $28.7 million in stock sale by KKR affiliates Via Investing.com
In a recent filing with the Securities and Exchange Commission, OneStream, Inc. (NASDAQ:OS) disclosed that several businesses associated with Kohlberg Kravis Roberts & Co. (KKR) sold shares worth about $28.7 million. The transaction took place on November 27, 2024, with the shares sold at a price of $29.9925 each.
Reporting companies include KKR NGT (Dream) Blocker Parent LP, KKR NGT (Dream) Blocker Parent (EEA) LP, and KKR Associates NGT LP, among others. These businesses distributed a total of 898,957 shares during the transaction.
The sale follows a series of conversions of Class D Common Stock into Class A Common Stock on November 26, 2024. This conversion was made without consideration for cash, as Class D shares are individually convertible into Class A shares, according to the filing.
The transaction reflects the ongoing management and strategic decisions of KKR affiliates in their management of OneStream, a company that specializes in prepackaged software services.
In other recent news, OneStream Inc. announced a proposed underwritten public offering of 15 million shares of Class A common stock. The offering includes more than 9 million shares from shareholders and approximately 6 million shares from OneStream. itself. Proceeds from OneStream shares will be used to purchase LLC units from KKR Dream Holdings LLC. The donation is led by Morgan Stanley (NYSE: ), JP Morgan, and KKR.
In terms of financial performance, OneStream’s latest quarterly results showed a 4% top-line beat and a $1 million increase in fourth-quarter forecasts. The growth rate of the company’s registration reached 39%, exceeding the estimated value of 35%. Analysts from Piper Sandler, BMO Capital, TD Cowen, and Loop Capital all expressed confidence in OneStream’s growth trajectory, with Piper Sandler raising the price target to $37.
BMO Capital initiated coverage with an Outperform rating, emphasizing OneStream’s potential for market share growth and strong capabilities in data management, integration, and artificial intelligence/machine learning. The company expects OneStream to exceed strong near-term financial metrics, which could have a positive impact on both revenue and profit.
TD Cowen maintained its buy rating on OneStream, highlighting the company’s strong growth trends and potential for further expansion. Loop Capital reiterated a buy rating, pointing to the company’s reduction in operating losses and the potential for market expansion. These recent developments suggest a positive outlook for OneStream.
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