Ouster (NASDAQ:OUST) General Counsel Sells $389,996.64 in Stock

Ouster, Inc. (NASDAQ:OUST) General Counsel Megan Chung sold 11,484 shares of Ouster stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $389,996.64. Following the completion of the transaction, the general counsel directly owned 189,291 shares in the company, valued at $6,428,322.36. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ouster Stock Up 0.3%

OUST opened at $35.05 on Friday. The firm’s 50-day moving average price is $38.34 and its 200-day moving average price is $34.23. The company has a market cap of $2.53 billion, a P/E ratio of -40.76 and a beta of 3.25. Ouster, Inc. has a 52-week low of $16.40 and a 52-week high of $63.79.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. On average, research analysts anticipate that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Ouster

A number of hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Ouster in the 1st quarter valued at about $8,915,000. Handelsbanken Fonder AB grew its stake in Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after buying an additional 405,441 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Ouster during the second quarter worth approximately $25,218,000. Bastion Asset Management Inc. acquired a new position in Ouster during the first quarter worth approximately $5,271,000. Finally, Wellington Management Group LLP purchased a new stake in Ouster in the second quarter valued at approximately $15,384,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Analysts Set New Price Targets

OUST has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $53.00 price target on shares of Ouster in a report on Thursday, August 27th. Roth Capital started coverage on Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Northland Securities set a $60.00 price objective on shares of Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Six 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Company Profile

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.