Granahan Investment Management Inc. MA Sells 6,809 Shares of Cornerstone OnDemand, Inc. (CSOD)

Granahan Investment Management Inc. MA cut its stake in shares of Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,313 shares of the software maker’s stock after selling 6,809 shares during the quarter. Granahan Investment Management Inc. MA’s holdings in Cornerstone OnDemand were worth $12,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Amalgamated Bank lifted its holdings in shares of Cornerstone OnDemand by 15.0% during the second quarter. Amalgamated Bank now owns 8,148 shares of the software maker’s stock worth $386,000 after purchasing an additional 1,065 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Cornerstone OnDemand by 11.4% during the second quarter. Xact Kapitalforvaltning AB now owns 10,709 shares of the software maker’s stock worth $508,000 after purchasing an additional 1,100 shares during the period. NumerixS Investment Technologies Inc lifted its holdings in shares of Cornerstone OnDemand by 27.1% during the second quarter. NumerixS Investment Technologies Inc now owns 6,100 shares of the software maker’s stock worth $291,000 after purchasing an additional 1,300 shares during the period. Pier 88 Investment Partners LLC lifted its holdings in Cornerstone OnDemand by 11.6% in the second quarter. Pier 88 Investment Partners LLC now owns 13,203 shares of the software maker’s stock valued at $626,000 after acquiring an additional 1,375 shares during the period. Finally, Swiss National Bank lifted its holdings in Cornerstone OnDemand by 2.3% in the first quarter. Swiss National Bank now owns 90,300 shares of the software maker’s stock valued at $3,532,000 after acquiring an additional 2,000 shares during the period. 91.72% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Harold W. Burlingame sold 1,552 shares of the firm’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $51.45, for a total value of $79,850.40. Following the completion of the transaction, the director now owns 53,326 shares in the company, valued at $2,743,622.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $52.63, for a total value of $1,105,230.00. Following the completion of the transaction, the chief executive officer now owns 3,466,268 shares of the company’s stock, valued at approximately $182,429,684.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,110 shares of company stock valued at $8,756,983. Company insiders own 11.70% of the company’s stock.

CSOD has been the subject of a number of recent analyst reports. Needham & Company LLC raised their target price on Cornerstone OnDemand to $65.00 and gave the company a “strong-buy” rating in a report on Monday, July 23rd. ValuEngine downgraded Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Piper Jaffray Companies raised Cornerstone OnDemand from a “neutral” rating to an “overweight” rating and raised their target price for the company from $46.00 to $60.00 in a report on Tuesday, July 17th. BidaskClub raised Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 17th. Finally, Zacks Investment Research downgraded Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.80.

Shares of CSOD stock opened at $57.24 on Friday. Cornerstone OnDemand, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $58.56. The firm has a market capitalization of $3.38 billion, a PE ratio of -81.77 and a beta of 0.85. The company has a debt-to-equity ratio of 6.50, a current ratio of 1.34 and a quick ratio of 1.34.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Tuesday, August 7th. The software maker reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Cornerstone OnDemand had a negative return on equity of 79.03% and a negative net margin of 10.03%. The business had revenue of $132.52 million during the quarter, compared to analysts’ expectations of $128.33 million. sell-side analysts anticipate that Cornerstone OnDemand, Inc. will post -0.33 earnings per share for the current fiscal year.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.

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

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