Handelsbanken Fonder AB Sells 514,325 Shares of Ouster, Inc. $OUST

Handelsbanken Fonder AB decreased its position in Ouster, Inc. (NASDAQ:OUST) by 84.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,674 shares of the company’s stock after selling 514,325 shares during the quarter. Handelsbanken Fonder AB owned about 0.15% of Ouster worth $5,982,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ouster in the first quarter valued at about $8,915,000. Squarepoint Ops LLC boosted its position in shares of Ouster by 517.5% in the fourth quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock valued at $8,693,000 after acquiring an additional 336,673 shares during the period. Bastion Asset Management Inc. bought a new position in Ouster during the first quarter worth about $5,271,000. Finally, AQR Capital Management LLC increased its position in Ouster by 610.1% during the first quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after acquiring an additional 254,580 shares during the period. Institutional investors own 31.45% of the company’s stock.

Wall Street Analyst Weigh In

OUST has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a research report on Wednesday. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Roth Capital assumed coverage on shares of Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Ouster Price Performance

Shares of NASDAQ:OUST opened at $48.71 on Friday. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -56.64 and a beta of 3.24. The firm has a fifty day moving average price of $42.91 and a two-hundred day moving average price of $31.34. Ouster, Inc. has a one year low of $16.40 and a one year high of $63.79.

Ouster (NASDAQ:OUST) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. Equities research analysts expect that Ouster, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity at Ouster

In related news, CEO Charles Angus Pacala sold 29,797 shares of the business’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 value of $1,156,719.54. Following the completion of the sale, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the completion of the sale, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This trade represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 554,004 shares of company stock worth $22,582,192 in the last quarter. 5.72% of the stock is owned by company insiders.

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.