Ouster (NASDAQ:OUST) Stock: Insider Stephen Skaggs Sells 5,000 Shares

Ouster, Inc. (NASDAQ:OUST) Director Stephen Skaggs sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the completion of the sale, the director directly owned 56,415 shares in the company, valued at approximately $1,918,110. The trade was a 8.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ouster Stock Performance

Shares of OUST opened at $38.22 on Thursday. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79. The company has a market cap of $2.76 billion, a PE ratio of -55.39 and a beta of 3.47. The stock has a 50-day moving average price of $35.62 and a 200-day moving average price of $32.72.

Ouster (NASDAQ:OUST) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $59.33 million during the quarter, compared to the consensus estimate of $56.30 million. Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. As a group, analysts predict that Ouster, Inc. will post -0.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OUST shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a report on Tuesday. Citigroup restated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $53.00 price objective on shares of Ouster in a report on Wednesday, November 4th. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a research report on Wednesday, November 4th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Hedge Funds Weigh In On Ouster

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in Ouster during the third quarter valued at approximately $203,000. Voya Investment Management LLC raised its stake in shares of Ouster by 6,298.0% during the third quarter. Voya Investment Management LLC now owns 763,983 shares of the company’s stock worth $30,819,000 after acquiring an additional 752,042 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Ouster by 25.6% during the third quarter. Global Retirement Partners LLC now owns 8,150 shares of the company’s stock worth $329,000 after acquiring an additional 1,662 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Ouster by 95.6% in the 3rd quarter. HighTower Advisors LLC now owns 8,515 shares of the company’s stock worth $343,000 after acquiring an additional 4,162 shares during the last quarter. Finally, Aberdeen Group plc bought a new stake in shares of Ouster in the 3rd quarter worth approximately $16,777,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.