Ouster (NASDAQ:OUST) Shares Down 6.8% on Insider Selling

Ouster, Inc. (NASDAQ:OUST) dropped 6.8% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $40.60 and last traded at $41.2170. Approximately 1,133,099 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,682,366 shares. The stock had previously closed at $44.23.

Specifically, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer owned 342,366 shares of the company’s stock, valued at $15,406,470. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mark Frichtl sold 308,742 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, CTO Mark Frichtl sold 75,684 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.80, for a total value of $2,785,171.20. Following the sale, the chief technology officer directly owned 603,666 shares of the company’s stock, valued at approximately $22,214,908.80. This trade represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on OUST shares. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings assumed coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Rosenblatt Securities boosted their price objective on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a report on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.80.

Trending Headlines about Ouster

Here are the key news stories impacting Ouster this week:

• Positive Sentiment: Ouster announced a strategic agreement with ARGUS Interception to strengthen counter-UAS systems using its digital lidar technology, reinforcing growth opportunities in defense and autonomous markets. ARGUS Interception and Ouster Announce Strategic Agreement
• Positive Sentiment: Rosenblatt Securities lifted its price target on Ouster to $53 from $40 and reiterated a Buy rating, signaling stronger confidence in the company’s outlook. Ouster price target raised to $53 at Rosenblatt
• Positive Sentiment: Additional coverage highlighted Ouster’s momentum in defense and autonomous technology, helping fuel investor buying interest and the recent stock strength. Ouster Shares Rise As Defense Push, Analyst Targets Hike Boost Momentum
• Neutral Sentiment: Several insiders, including the COO, CTO, and CRO, disclosed stock sales over the past few days. While this can weigh on sentiment, it does not necessarily signal a change in business fundamentals. SEC insider filing for Mark Frichtl SEC insider filing for Darien Spencer SEC insider filing for Cyrille Jacquemet
• Neutral Sentiment: Short-interest data showed no reported short position change, so it does not appear to be a major near-term driver for the stock.

Ouster Stock Performance

The firm has a market cap of $2.63 billion, a PE ratio of -43.35 and a beta of 3.06. The stock has a fifty day moving average price of $25.76 and a 200-day moving average price of $23.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake 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 buying an additional 525 shares during the period. Main Management ETF Advisors LLC lifted its holdings in shares of Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after acquiring an additional 560 shares in the last quarter. Corient Private Wealth LLC boosted its position in Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $280,000 after purchasing an additional 599 shares during the period. Prosperity Wealth Management Inc. increased its holdings in Ouster by 5.5% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after purchasing an additional 675 shares in the last quarter. Finally, Creative Planning increased its holdings in Ouster by 1.6% in the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after purchasing an additional 677 shares in the last quarter. 31.45% of the stock is owned by institutional investors and hedge funds.

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.