Insider Selling: Cornerstone OnDemand, Inc. (CSOD) EVP Sells 11,660 Shares of Stock

Cornerstone OnDemand, Inc. (NASDAQ:CSOD) EVP Vincent Belliveau sold 11,660 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $40.00, for a total transaction of $466,400.00. Following the completion of the sale, the executive vice president now directly owns 237,043 shares of the company’s stock, valued at approximately $9,481,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cornerstone OnDemand, Inc. (NASDAQ:CSOD) traded up 0.09% during midday trading on Friday, hitting $34.22. 375,177 shares of the stock were exchanged. The company’s 50 day moving average is $36.95 and its 200 day moving average is $38.44. The company’s market capitalization is $1.97 billion. Cornerstone OnDemand, Inc. has a 1-year low of $30.31 and a 1-year high of $47.75.

Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.09. The company had revenue of $116.70 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that Cornerstone OnDemand, Inc. will post $0.39 earnings per share for the current fiscal year.

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Several brokerages have commented on CSOD. B. Riley reaffirmed a “buy” rating and issued a $47.00 target price on shares of Cornerstone OnDemand in a research note on Friday, August 4th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Cornerstone OnDemand in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $46.00 price target (down previously from $50.00) on shares of Cornerstone OnDemand in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.43.

A number of hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. raised its stake in shares of Cornerstone OnDemand by 40.9% in the second quarter. Eagle Asset Management Inc. now owns 2,123,957 shares of the software maker’s stock valued at $75,931,000 after buying an additional 616,269 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cornerstone OnDemand by 9.6% in the first quarter. Vanguard Group Inc. now owns 4,230,213 shares of the software maker’s stock valued at $164,513,000 after buying an additional 368,783 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Cornerstone OnDemand by 25.2% in the second quarter. First Trust Advisors LP now owns 1,538,235 shares of the software maker’s stock valued at $54,992,000 after buying an additional 309,331 shares in the last quarter. Norges Bank purchased a new stake in shares of Cornerstone OnDemand during the fourth quarter valued at about $11,655,000. Finally, Garelick Capital Partners LP purchased a new stake in shares of Cornerstone OnDemand during the first quarter valued at about $9,620,000. 89.56% of the stock is owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Cornerstone OnDemand (NASDAQ:CSOD)

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