Ouster (NASDAQ:OUST) Trading Down 6.4% Following Insider Selling

Ouster, Inc. (NASDAQ:OUST)’s stock price fell 6.4% during trading on Wednesday following insider selling activity. The stock traded as low as $40.32 and last traded at $40.2560. 717,594 shares traded hands during trading, a decline of 78% from the average daily volume of 3,273,558 shares. The stock had previously closed at $42.99.

Specifically, CFO Kenneth P. Gianella sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $45.33, for a total value of $1,813,200.00. Following the completion of the transaction, the chief financial officer directly owned 261,014 shares in the company, valued at $11,831,764.62. This represents a 13.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $57.00 target price (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $53.00 price target on shares of Ouster in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.67.

Ouster Price Performance

The stock has a 50-day moving average price of $43.14 and a two-hundred day moving average price of $31.93. The stock has a market cap of $2.74 billion, a PE ratio of -44.13 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. The firm had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. Equities research analysts expect that Ouster, Inc. will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Ouster

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after buying an additional 1,089 shares in the last quarter. Larson Financial Group LLC increased its stake in Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after acquiring an additional 1,067 shares during the last quarter. SHP Wealth Management bought a new stake in Ouster during the fourth quarter worth approximately $96,000. Van ECK Associates Corp raised its position in Ouster by 17.1% during 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 increased its position 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 valued at $100,000 after purchasing an additional 2,695 shares during the last quarter. Institutional investors own 31.45% of the company’s stock.

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.