In a recent transaction, Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) sold a significant portion of its holdings in OneStream, Inc. (NASDAQ:OS). The sale, which took place on November 27, 2024, involved the disposition of Class A Common Stock totaling $28.7 million at a price of $29.9925 per share.
The transaction included multiple sales, with shares disposed of by various KKR entities, including KKR Group Partnership L.P., KKR & Co (NYSE:KKR). GP LLC, and KKR Holdco LLC. The sales resulted in the complete disposal of shares previously acquired by these entities.
This move comes as part of a broader strategy by KKR, a notable player in investment management, to manage its portfolio and optimize returns for its stakeholders. The sale of OneStream shares indicates a strategic financial decision, aligning with KKR's investment objectives.
Investors and market analysts will be observing how this transaction impacts both KKR's financial standing and OneStream's stock performance in the coming months.
In other recent news, OneStream Inc. has announced a proposed underwritten public offering of 15 million shares of its Class A common stock, with Morgan Stanley (NYSE:MS), J.P. Morgan, and KKR leading the offering. The company intends to use the proceeds from its shares to purchase LLC units from KKR Dream Holdings LLC.
Following a series of positive financial assessments, Piper Sandler maintained an Overweight rating on OneStream, raising the price target to $37, following the company's strong performance and promising growth prospects. The company's recent quarter results showed a 4% top-line beat and a $1 million increase in the fourth-quarter forecast.
BMO (TSX:BMO) Capital initiated coverage with an Outperform rating, emphasizing OneStream's potential for market share growth and strong capabilities in data management, consolidation, and artificial intelligence/machine learning. The firm anticipates OneStream to surpass conservative near-term financial estimates, which could positively impact both revenue and earnings.
TD (TSX:TD) Cowen maintained its Buy rating on OneStream, highlighting the company's solid 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 developments suggest a positive outlook for OneStream, with various firms expressing confidence in the company's growth trajectory and market position.
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