Ouster (NASDAQ:OUST) CTO Sells $637,700.88 in Stock

Ouster, Inc. (NASDAQ:OUST) CTO Mark Frichtl sold 18,778 shares of Ouster stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the completion of the transaction, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. This trade represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ouster Stock Performance

Shares of OUST stock opened at $35.05 on Friday. The company has a market capitalization of $2.53 billion, a P/E ratio of -40.76 and a beta of 3.25. Ouster, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $63.79. The stock has a 50 day moving average price of $38.34 and a two-hundred day moving average price of $34.23.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Citigroup restated an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 price target on shares of Ouster in a research report on Thursday, August 27th. Northland Securities set a $60.00 price objective on Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.67.

Institutional Investors Weigh In On Ouster

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in shares of Ouster during the second quarter valued at about $2,172,000. IPG Investment Advisors LLC raised its stake in Ouster by 49.2% in the second quarter. IPG Investment Advisors LLC now owns 14,924 shares of the company’s stock worth $933,000 after buying an additional 4,924 shares in the last quarter. MCF Advisors LLC lifted its holdings in Ouster by 34.4% in the second quarter. MCF Advisors LLC now owns 1,344 shares of the company’s stock worth $84,000 after buying an additional 344 shares during the period. Archford Capital Strategies LLC purchased a new stake in Ouster in the second quarter worth about $319,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Ouster in the second quarter worth about $74,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Company Profile

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.