Essex Investment Management Co. LLC Trims Position in Ouster, Inc. $OUST

Essex Investment Management Co. LLC trimmed its holdings in shares of Ouster, Inc. (NYSE:OUST) by 25.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 185,664 shares of the company’s stock after selling 64,508 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Ouster were worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in Ouster by 610.1% during the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after purchasing an additional 254,580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after purchasing an additional 2,037 shares during the period. CWM LLC raised its stake in shares of Ouster by 35.0% during the 2nd quarter. CWM LLC now owns 15,647 shares of the company’s stock valued at $379,000 after buying an additional 4,056 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Ouster by 2.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 41,014 shares of the company’s stock valued at $995,000 after buying an additional 1,128 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Ouster by 153.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock worth $29,000 after buying an additional 733 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Stock Up 8.4%

OUST stock opened at $21.06 on Tuesday. Ouster, Inc. has a 52 week low of $6.34 and a 52 week high of $41.65. The firm has a 50-day simple moving average of $23.70 and a 200-day simple moving average of $26.67. The stock has a market capitalization of $1.26 billion, a P/E ratio of -8.19 and a beta of 2.91.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OUST shares. Cantor Fitzgerald set a $33.00 price target on Ouster in a research report on Thursday, November 6th. Northland Securities set a $38.00 target price on shares of Ouster in a research note on Wednesday, November 5th. Westpark Capital restated a “buy” rating and set a $50.00 price target on shares of Ouster in a research report on Wednesday, November 5th. Zacks Research lowered shares of Ouster from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Oppenheimer restated an “outperform” rating on shares of Ouster in a research report on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Insider Activity at Ouster

In other Ouster news, General Counsel Megan Chung sold 5,837 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $27.24, for a total transaction of $158,999.88. Following the completion of the transaction, the general counsel owned 183,141 shares of the company’s stock, valued at $4,988,760.84. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ted L. Tewksbury III sold 1,695 shares of Ouster stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $21.47, for a total value of $36,391.65. Following the completion of the sale, the director directly owned 123,664 shares in the company, valued at $2,655,066.08. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.63% of the stock is currently owned by insiders.

Ouster 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.