Insider Selling: Ouster (NASDAQ:OUST) CFO Sells $2,109,362.34 in Stock

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth Gianella sold 54,337 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value 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 $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ouster Stock Performance

Ouster stock opened at $46.57 on Friday. Ouster, Inc. has a one year low of $16.40 and a one year high of $49.39. The company has a 50-day simple moving average of $33.14 and a 200-day simple moving average of $25.92. The firm has a market capitalization of $2.92 billion, a P/E ratio of -48.01 and a beta of 3.24.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The firm had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. As a group, sell-side analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current year.

Hedge Funds Weigh In On Ouster

Hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its holdings 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 buying an additional 536,413 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Ouster during the first quarter worth about $8,915,000. Vanguard Group Inc. raised its position in Ouster by 11.3% in the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after acquiring an additional 405,441 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on OUST shares. Rosenblatt Securities lifted their target price on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Roth Mkm assumed coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Weiss Ratings assumed coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating for the company. Finally, Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Ouster presently has a consensus rating of “Hold” and a consensus price target of $48.17.

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.