Penn Capital Management Company LLC Sells 62,906 Shares of Ouster, Inc. $OUST

Penn Capital Management Company LLC decreased its position in shares of Ouster, Inc. (NYSE:OUST) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 624,960 shares of the company’s stock after selling 62,906 shares during the period. Ouster makes up approximately 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 21st biggest position. Penn Capital Management Company LLC’s holdings in Ouster were worth $16,929,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised 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 buying an additional 1,089 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Ouster by 8,823.5% during the second quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after buying an additional 1,500 shares during the period. Gordian Capital Singapore Pte Ltd increased its position in Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the last quarter. Van ECK Associates Corp increased its position in Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after acquiring an additional 525 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Ouster in the second quarter valued at $104,000. 31.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Virginia Boulet purchased 6,500 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $20.95 per share, for a total transaction of $136,175.00. Following the completion of the acquisition, the director owned 228,342 shares of the company’s stock, valued at approximately $4,783,764.90. This trade represents a 2.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Mark Frichtl sold 15,689 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.43, for a total value of $367,593.27. Following the completion of the transaction, the chief technology officer directly owned 636,882 shares in the company, valued at approximately $14,922,145.26. This trade represents a 2.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 68,409 shares of company stock worth $1,621,740. 6.63% of the stock is owned by company insiders.

Ouster Price Performance

OUST stock opened at $21.39 on Wednesday. Ouster, Inc. has a 12 month low of $6.34 and a 12 month high of $41.65. The firm’s 50-day moving average is $22.09 and its 200 day moving average is $25.26. The company has a market capitalization of $1.28 billion, a PE ratio of -8.32 and a beta of 2.91.

Analyst Ratings Changes

OUST has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Ouster in a research note on Tuesday, March 3rd. Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and an average target price of $36.17.

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.