Insider Selling: Ouster (NASDAQ:OUST) CFO Sells $1,813,200.00 in Stock

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth Gianella sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $45.33, for a total transaction of $1,813,200.00. Following the transaction, the chief financial officer owned 261,014 shares in the company, valued at $11,831,764.62. This trade represents a 13.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ouster Trading Up 1.2%

Ouster stock opened at $38.42 on Friday. The firm has a 50-day moving average price of $43.12 and a 200-day moving average price of $31.97. The firm has a market capitalization of $2.77 billion, a PE ratio of -44.67 and a beta of 3.24. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The firm had revenue of $54.63 million for the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. As a group, sell-side analysts predict that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ouster

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position 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 in the last quarter. Orion Capital Management LLC increased its stake in shares of Ouster by 195.7% during the second quarter. Orion Capital Management LLC now owns 1,511 shares of the company’s stock valued at $94,000 after buying an additional 1,000 shares during the period. Larson Financial Group LLC raised its holdings in shares of Ouster by 118.8% in the fourth 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. FNY Investment Advisers LLC purchased a new stake in Ouster in the second quarter worth about $150,000. Finally, Nykredit A S purchased a new stake in Ouster in the second quarter worth about $151,000. 31.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Oppenheimer restated an “outperform” rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $53.00 target price on shares of Ouster in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

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.