Ouster (NASDAQ:OUST) Stock Price Down 5.4% Following Insider Selling

Ouster, Inc. (NASDAQ:OUST) fell 5.4% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $42.62 and last traded at $42.73. 2,619,430 shares changed hands during trading, a decline of 10% from the average session volume of 2,902,483 shares. The stock had previously closed at $45.18.

Specifically, CEO Charles Angus Pacala sold 29,797 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was 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 owned 301,014 shares in the company, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

OUST has been the topic of a number of research reports. Weiss Ratings initiated coverage on Ouster in a report on Friday, May 15th. They issued a “sell (d-)” rating on the stock. Rosenblatt Securities upped their target price on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Roth Mkm initiated coverage on Ouster in a research note on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Cantor Fitzgerald cut Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ouster currently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Stock Performance

The firm has a market cap of $2.68 billion, a P/E ratio of -44.05 and a beta of 3.24. The company has a 50 day moving average of $31.71 and a 200 day moving average of $25.48.

Institutional Investors Weigh In On Ouster

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock worth $27,000 after purchasing an additional 1,089 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Ouster by 118.8% during the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock worth $43,000 after buying an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Ouster by 38.1% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after buying an additional 800 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ouster by 17.1% during the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after buying an additional 525 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Ouster during the third quarter worth approximately $120,000. Institutional investors own 31.45% of the company’s stock.

About Ouster

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.