JPMorgan Chase & Co. Boosts Stake in Ouster, Inc. $OUST

JPMorgan Chase & Co. lifted its stake in shares of Ouster, Inc. (NYSE:OUST) by 514.6% during the third quarter, Holdings Channel reports. The fund owned 185,198 shares of the company’s stock after purchasing an additional 155,063 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ouster were worth $5,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OUST. Invesco Ltd. grew its position in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after purchasing an additional 536,413 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ouster by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster in the 3rd quarter valued at about $9,193,000. Algert Global LLC lifted its stake in shares of Ouster by 192.6% in the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock valued at $13,549,000 after purchasing an additional 329,735 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Ouster by 1,419.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock worth $8,385,000 after purchasing an additional 289,790 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Angus Pacala sold 24,657 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.43, for a total transaction of $577,713.51. Following the completion of the sale, the chief executive officer directly owned 960,660 shares in the company, valued at $22,508,263.80. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Virginia Boulet bought 6,500 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $20.95 per share, for a total transaction of $136,175.00. Following the completion of the transaction, the director owned 228,342 shares of the company’s stock, valued at approximately $4,783,764.90. The trade was a 2.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 108,409 shares of company stock worth $2,456,848 over the last quarter. Company insiders own 6.63% of the company’s stock.

Ouster Trading Up 4.7%

OUST opened at $19.49 on Friday. The company has a fifty day simple moving average of $20.36 and a 200 day simple moving average of $24.56. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.58 and a beta of 2.91. Ouster, Inc. has a twelve month low of $6.34 and a twelve month high of $41.65.

Wall Street Analyst Weigh In

Several research analysts recently commented on OUST shares. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Ouster currently has an average rating of “Moderate Buy” and an average price target of $40.20.

Ouster Company 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.