Ouster (NASDAQ:OUST) CFO Sells 40,000 Shares

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

Ouster Trading Down 6.8%

Shares of NASDAQ:OUST traded down $2.93 on Wednesday, hitting $40.06. The company had a trading volume of 3,043,413 shares, compared to its average volume of 3,118,012. The company has a market cap of $2.89 billion, a PE ratio of -46.58 and a beta of 3.24. Ouster, Inc. has a 52-week low of $16.40 and a 52-week high of $63.79. The business has a 50 day moving average of $43.18 and a 200 day moving average of $31.81.

Ouster (NASDAQ:OUST) last released its 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 firm had revenue of $54.63 million during the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. As a group, equities analysts predict that Ouster, Inc. will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Ouster in the 2nd quarter valued at about $15,384,000. AWM Investment Company Inc. purchased a new position in Ouster in the 2nd quarter worth about $9,843,000. Ranger Investment Management L.P. acquired a new stake in Ouster during the 2nd quarter worth about $4,826,000. Bank of New York Mellon Corp purchased a new stake in Ouster during the second quarter valued at about $11,192,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Ouster during the second quarter valued at about $230,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Roth Capital began coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 target price for the company. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and set a $53.00 price objective on shares of Ouster in a research note on Friday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $57.00 target price (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.67.

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.