Insider Selling: Ouster (NASDAQ:OUST) Director Sells 1,695 Shares

Ouster, Inc. (NASDAQ:OUST) Director Ted Tewksbury III sold 1,695 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $47.00, for a total transaction of $79,665.00. Following the completion of the transaction, the director directly owned 124,999 shares in the company, valued at approximately $5,874,953. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ouster Stock Performance

OUST traded up $1.11 during trading on Monday, reaching $47.68. 6,119,600 shares of the company’s stock were exchanged, compared to its average volume of 2,991,054. The company’s fifty day moving average price is $33.67 and its 200-day moving average price is $26.09. The firm has a market capitalization of $2.99 billion, a PE ratio of -49.15 and a beta of 3.24. Ouster, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $51.50.

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 analysts’ consensus estimates 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 company had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. During the same period last year, the company earned ($0.42) EPS. Research analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Ouster

A number of large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. bought a new position in Ouster in the third quarter valued at $3,038,000. Handelsbanken Fonder AB lifted its position in Ouster by 1,419.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 310,205 shares of the company’s stock worth $8,385,000 after buying an additional 289,790 shares in the last quarter. SG Americas Securities LLC lifted its position in Ouster by 43.2% during the 4th quarter. SG Americas Securities LLC now owns 276,578 shares of the company’s stock worth $5,985,000 after buying an additional 83,448 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ouster by 514.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,198 shares of the company’s stock worth $5,010,000 after buying an additional 155,063 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Ouster by 192.6% during the 3rd quarter. Algert Global LLC now owns 500,902 shares of the company’s stock worth $13,549,000 after buying an additional 329,735 shares during the last quarter. 31.45% of the stock is owned by institutional investors.

About Ouster

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.