Insider Selling: Ouster (NASDAQ:OUST) CEO Sells $1,031,874.60 in Stock

Ouster, Inc. (NASDAQ:OUST) CEO Charles Pacala sold 30,385 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $1,031,874.60. Following the transaction, the chief executive officer owned 1,041,816 shares of the company’s stock, valued at approximately $35,380,071.36. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ouster Stock Up 0.3%

Ouster stock opened at $35.05 on Friday. Ouster, Inc. has a 52-week low of $16.40 and a 52-week high of $63.79. The firm’s fifty day moving average is $38.34 and its 200 day moving average is $34.23. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -40.76 and a beta of 3.25.

Ouster (NASDAQ:OUST) last announced its 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). The company had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. On average, equities research analysts anticipate that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OUST. California State Teachers Retirement System grew its holdings in shares of Ouster by 50.3% during the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock valued at $1,459,000 after buying an additional 26,574 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Ouster during the 1st quarter worth about $2,436,000. Dimensional Fund Advisors LP grew its stake in Ouster by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock valued at $8,889,000 after purchasing an additional 32,440 shares during the last quarter. Bastion Asset Management Inc. purchased a new stake in Ouster during the 1st quarter valued at about $5,271,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Ouster by 706.0% in the first quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock valued at $3,268,000 after purchasing an additional 155,825 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.