Potrero Capital Research Lowers stake in Cornerstone OnDemand (CSOD)

Cornerstone OnDemand (CSOD) : Potrero Capital Research reduced its stake in Cornerstone OnDemand by 6.86% during the most recent quarter end. The investment management company now holds a total of 135,679 shares of Cornerstone OnDemand which is valued at $6,045,856 after selling 10,000 shares in Cornerstone OnDemand , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Cornerstone OnDemand makes up approximately 5.23% of Potrero Capital Research’s portfolio.

Other Hedge Funds, Including , Nicholas Investment Partners Lp boosted its stake in CSOD in the latest quarter, The investment management firm added 29,302 additional shares and now holds a total of 131,814 shares of Cornerstone OnDemand which is valued at $5,873,632. Cornerstone OnDemand makes up approx 0.51% of Nicholas Investment Partners Lp’s portfolio. Pacad Investment Ltd. added CSOD to its portfolio by purchasing 14,400 company shares during the most recent quarter which is valued at $641,664. Cornerstone OnDemand makes up approx 0.09% of Pacad Investment Ltd.’s portfolio.Peak6 Investments boosted its stake in CSOD in the latest quarter, The investment management firm added 6,598 additional shares and now holds a total of 16,492 shares of Cornerstone OnDemand which is valued at $734,884. Cornerstone OnDemand makes up approx 0.04% of Peak6 Investments’s portfolio.Eagle Asset Management Inc reduced its stake in CSOD by selling 119,384 shares or 8.56% in the most recent quarter. The Hedge Fund company now holds 1,275,712 shares of CSOD which is valued at $54,753,559. Cornerstone OnDemand makes up approx 0.36% of Eagle Asset Management Inc’s portfolio.

Cornerstone OnDemand opened for trading at $43.75 and hit $44.34 on the upside on Monday, eventually ending the session at $43.67, with a gain of 0.14% or 0.06 points. The heightened volatility saw the trading volume jump to 2,98,860 shares. Company has a market cap of $2,443 M.

On the company’s financial health, Cornerstone OnDemand reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.02. The company had revenue of $96.00 million for the quarter, compared to analysts expectations of $97.70 million. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on Cornerstone OnDemand. Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 51 from a previous price target of $42 .Company shares were Upgraded by Barclays on Jul 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 44 from a previous price target of $32 .Company shares were Reiterated by Needham on Jul 14, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .

Cornerstone OnDemand Inc. is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses hiring developing engaging employees throughout their careers. The Company also offers Cornerstone Growth Edition which is a cloud-based talent management solution with learning and performance product offerings targeted to organizations with fewer than 400 employees. The Company’s product offerings include Cornerstone Recruiting Cornerstone Onboarding Cornerstone Learning Cornerstone Performance Cornerstone Succession Cornerstone Compensation Cornerstone Extended Enterprise and Cornerstone for Salesforce. The Company’s clients include multi-national companies large domestic and foreign-based enterprises mid-market companies public sector organizations higher education institutions and non-profit entities.

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