Ouster (NYSE:OUST) Shares Gap Down Following Insider Selling

Ouster, Inc. (NYSE:OUST) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $28.60, but opened at $26.50. Ouster shares last traded at $26.3820, with a volume of 1,518,576 shares traded.

Specifically, CTO Mark Frichtl sold 13,451 shares of Ouster stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $30.00, for a total transaction of $403,530.00. Following the completion of the transaction, the chief technology officer owned 712,297 shares in the company, valued at approximately $21,368,910. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mark Frichtl sold 21,149 shares of Ouster stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.13, for a total value of $637,219.37. Following the transaction, the chief technology officer owned 712,297 shares of the company’s stock, valued at $21,461,508.61. The trade was a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

A number of research firms recently commented on OUST. Oppenheimer reiterated an “outperform” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Ouster in a report on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Ouster currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Ouster Stock Up 2.8%

The company has a market cap of $1.58 billion, a P/E ratio of -9.81 and a beta of 3.06. The business has a fifty day moving average price of $22.30 and a 200-day moving average price of $23.43.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Ouster by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock worth $127,683,000 after acquiring an additional 478,372 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ouster by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after acquiring an additional 118,132 shares during the period. Penn Capital Management Company LLC boosted its holdings 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 worth $16,817,000 after acquiring an additional 150,337 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after acquiring an additional 405,441 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares during the period. Institutional investors own 31.45% of the company’s stock.

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.