Kenneth Gianella Sells 40,000 Shares of Ouster (NASDAQ:OUST) Stock

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth 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 of the company’s stock, valued at $11,831,764.62. This trade represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ouster Price Performance

Shares of NASDAQ:OUST traded down $2.93 during trading on Wednesday, hitting $40.06. 3,043,413 shares of the company were exchanged, compared to its average volume of 3,118,012. The stock has a market capitalization of $2.89 billion, a P/E ratio of -46.58 and a beta of 3.24. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79. The firm’s 50 day moving average price is $43.18 and its 200-day moving average price is $31.81.

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 net margin of 26.02% and a negative return on equity of 17.49%. The company had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. As a group, equities research analysts anticipate that Ouster, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on OUST shares. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Northland Securities set a $60.00 price objective on Ouster and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Oppenheimer restated an “outperform” rating and set a $57.00 target price (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Finally, Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ouster currently has an average rating of “Moderate Buy” and an average price target of $54.67.

Institutional Trading of Ouster

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Ouster by 2,532.6% during 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 during the last quarter. Larson Financial Group LLC increased its holdings in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares in the last quarter. SHP Wealth Management acquired a new position in Ouster during the fourth quarter worth about $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 worth $97,000 after acquiring an additional 525 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Ouster by 139.9% in the fourth 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 in the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

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.