46,043 Shares in Ouster, Inc. $OUST Acquired by FirstWave Capital Management LLC

FirstWave Capital Management LLC acquired a new stake in Ouster, Inc. (NASDAQ:OUST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 46,043 shares of the company’s stock, valued at approximately $2,879,000. Ouster comprises about 1.3% of FirstWave Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its stake in shares of Ouster by 50.3% in the 1st quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock valued at $1,459,000 after acquiring an additional 26,574 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Ouster during the 1st quarter worth $2,436,000. Dimensional Fund Advisors LP grew its position in Ouster by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock worth $8,889,000 after acquiring an additional 32,440 shares during the last quarter. Bastion Asset Management Inc. acquired a new position in Ouster in the 1st quarter worth about $5,271,000. Finally, Janus Henderson Group PLC increased its holdings in Ouster by 706.0% in the 1st quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock worth $3,268,000 after purchasing an additional 155,825 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Insider Activity

In other news, COO Darien Spencer sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.00, for a total value of $1,350,000.00. Following the transaction, the chief operating officer owned 299,806 shares in the company, valued at approximately $13,491,270. The trade was a 9.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kenneth Gianella sold 54,337 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer directly owned 301,014 shares in the company, valued at approximately $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,829 shares of company stock worth $6,736,649. 5.72% of the stock is owned by insiders.

Ouster Trading Up 1.7%

NASDAQ OUST opened at $36.43 on Friday. The firm has a market capitalization of $2.63 billion, a PE ratio of -42.36 and a beta of 3.25. The business’s 50-day moving average price is $41.41 and its two-hundred day moving average price is $33.10. Ouster, Inc. has a 12 month low of $16.40 and a 12 month high of $63.79.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. As a group, analysts forecast that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Roth Capital started coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Citigroup reiterated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $53.00 target price on shares of Ouster in a report on Thursday, August 27th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.67.

Ouster Profile

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.