Insider Selling: Ouster (NASDAQ:OUST) Director Sells $79,665.00 in Stock

Ouster, Inc. (NASDAQ:OUST) Director Ted Tewksbury III sold 1,695 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $47.00, for a total value of $79,665.00. Following the transaction, the director owned 124,999 shares of the company’s stock, valued at approximately $5,874,953. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ouster Price Performance

NASDAQ OUST opened at $40.72 on Thursday. The firm’s fifty day moving average price is $35.09 and its 200 day moving average price is $26.53. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -41.98 and a beta of 3.24. Ouster, Inc. has a 12 month low of $16.40 and a 12 month high of $51.50.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The company had revenue of $48.58 million for the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. As a group, sell-side analysts forecast that Ouster, Inc. will post -1.05 earnings per share for the current year.

Institutional Investors Weigh In On Ouster

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Ouster by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after purchasing an additional 478,372 shares during the period. Geode Capital Management LLC raised its position in Ouster by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock valued at $30,758,000 after purchasing an additional 118,132 shares during the period. Penn Capital Management Company LLC lifted its stake in shares of Ouster by 24.1% during the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after purchasing an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after purchasing an additional 405,441 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after buying an additional 536,413 shares during the period. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OUST. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm began coverage on shares of Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Weiss Ratings began coverage on shares of Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Finally, Rosenblatt Securities upped their price target on shares of Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.17.

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.