Ouster (NASDAQ:OUST) CRO Sells 8,896 Shares

Ouster, Inc. (NASDAQ:OUST) CRO Cyrille Jacquemet sold 8,896 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $33.96, for a total value of $302,108.16. Following the completion of the sale, the executive directly owned 105,538 shares of the company’s stock, valued at $3,584,070.48. The trade was a 7.77% 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.

Ouster Trading Up 3.7%

Shares of NASDAQ OUST traded up $1.20 during trading hours on Wednesday, hitting $33.99. 1,803,183 shares of the company traded hands, compared to its average volume of 1,946,057. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -39.52 and a beta of 3.25. The company’s 50 day moving average price is $38.76 and its 200 day moving average price is $34.11. Ouster, Inc. has a 12 month low of $16.40 and a 12 month high of $63.79.

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

Institutional Investors Weigh In On Ouster

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. bought a new position in Ouster in the 2nd quarter worth about $25,218,000. Penn Capital Management Company LLC raised 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 valued at $16,817,000 after acquiring an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Ouster by 130.7% in the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after purchasing an additional 405,441 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Ouster in the second quarter valued at approximately $15,384,000. Finally, Bank of New York Mellon Corp bought a new position in Ouster in the second quarter worth approximately $11,192,000. Institutional investors own 31.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OUST. Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 price target on shares of Ouster in a research note on Thursday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Roth Capital started coverage on Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ouster has a consensus rating of “Moderate Buy” and an average price target of $54.67.

About Ouster

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.