Insider Selling: Ouster (NASDAQ:OUST) COO Sells $1,350,000.00 in Stock

Ouster, Inc. (NASDAQ:OUST) COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 299,806 shares in the company, valued at approximately $13,491,270. This represents a 9.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Darien Spencer also recently made the following trade(s):

• On Tuesday, May 26th, Darien Spencer sold 30,000 shares of Ouster stock. The stock was sold at an average price of $45.00, for a total value of $1,350,000.00.

Ouster Stock Performance

NASDAQ OUST traded down $2.72 during trading hours on Wednesday, hitting $45.12. 2,375,301 shares of the company traded hands, compared to its average volume of 3,593,112. The business’s 50-day moving average is $42.79 and its 200-day moving average is $30.42. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -46.51 and a beta of 3.24. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79.

Ouster (NASDAQ:OUST) last posted its quarterly earnings results 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 return on equity of 21.49% and a negative net margin of 30.12%.The company had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same period last year, the firm earned ($0.42) EPS. Analysts predict that Ouster, Inc. will post -1.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OUST. Citigroup restated an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Oppenheimer reiterated an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Roth Capital initiated coverage on shares of Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Weiss Ratings assumed coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Cantor Fitzgerald downgraded shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ouster currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares during the period. SHP Wealth Management bought a new position in shares of Ouster in the fourth quarter valued at about $96,000. Van ECK Associates Corp raised its position in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of Ouster by 139.9% during the 4th quarter. Global Retirement Partners LLC now owns 4,622 shares of the company’s stock worth $100,000 after buying an additional 2,695 shares during the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.