Ouster (NASDAQ:OUST) Shares Down 4.7% After Insider Selling

Ouster, Inc. (NASDAQ:OUST)’s stock price fell 4.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $40.30 and last traded at $40.72. 4,144,009 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 2,913,661 shares. The stock had previously closed at $42.73.

Specifically, CEO Charles Angus Pacala sold 29,797 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer directly owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth P. Gianella sold 54,337 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Roth Mkm assumed coverage on shares of Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price target for the company. Cantor Fitzgerald cut shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities raised their price target on shares of Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings assumed coverage on shares of Ouster in a research note on Friday, May 15th. They set a “sell (d-)” rating for the company. Four 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Stock Performance

The company has a market cap of $2.56 billion, a price-to-earnings ratio of -41.98 and a beta of 3.24. The firm has a fifty day moving average price of $32.17 and a 200 day moving average price of $25.63.

Institutional Investors Weigh In On Ouster

Several hedge funds have recently added to or reduced their stakes in OUST. NewEdge Advisors LLC lifted its holdings in Ouster by 2,532.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after purchasing an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in Ouster by 38.1% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the last quarter. SHP Wealth Management acquired a new stake in Ouster during the 4th quarter valued at $96,000. Finally, Van ECK Associates Corp lifted its holdings in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.