Insider Selling: Ouster (NASDAQ:OUST) CFO Sells $532,696.56 in Stock

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth Gianella sold 15,686 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $532,696.56. Following the completion of the sale, the chief financial officer owned 245,328 shares in the company, valued at $8,331,338.88. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ouster Price Performance

Shares of OUST traded up $1.20 during trading hours on Wednesday, hitting $33.99. The stock had a trading volume of 1,803,183 shares, compared to its average volume of 3,149,709. 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 fifty day moving average is $38.94 and its two-hundred day moving average is $34.01. Ouster, Inc. has a 52 week low of $16.40 and a 52 week high of $63.79.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Ouster in the 1st quarter valued at about $8,915,000. Handelsbanken Fonder AB grew its position in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock worth $15,479,000 after buying an additional 405,441 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Ouster during the second quarter worth approximately $25,218,000. Bastion Asset Management Inc. bought a new stake in shares of Ouster during the first quarter worth approximately $5,271,000. Finally, Wellington Management Group LLP acquired a new position in Ouster in the second quarter valued at approximately $15,384,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup reissued an “outperform” rating on shares of Ouster in a report on Tuesday, July 21st. Oppenheimer reiterated an “outperform” rating and issued a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research note on Wednesday, August 12th. Roth Capital initiated coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $53.00 target price on shares of Ouster in a research note on Thursday, August 27th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.