Ouster (NASDAQ:OUST) CFO Kenneth Gianella Sells 54,337 Shares

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth Gianella sold 54,337 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $2,109,362.34. Following the transaction, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ouster Stock Down 5.4%

Shares of NASDAQ:OUST traded down $2.45 during trading on Tuesday, hitting $42.73. 2,623,710 shares of the company traded hands, compared to its average volume of 2,905,202. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -44.05 and a beta of 3.24. The business’s fifty day moving average is $31.71 and its 200-day moving average is $25.48. Ouster, Inc. has a one year low of $16.40 and a one year high of $49.39.

Hedge Funds Weigh In On Ouster

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in Ouster by 17.1% during the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Main Management ETF Advisors LLC raised its stake in Ouster by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock valued at $1,186,000 after purchasing an additional 560 shares during the period. Corient Private Wealth LLC raised its stake in Ouster by 5.5% during the 2nd quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock valued at $280,000 after purchasing an additional 599 shares during the period. Prosperity Wealth Management Inc. raised its stake in Ouster by 5.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 13,000 shares of the company’s stock valued at $352,000 after purchasing an additional 675 shares during the period. Finally, Creative Planning raised its stake in Ouster by 1.6% during the 3rd quarter. Creative Planning now owns 43,681 shares of the company’s stock valued at $1,182,000 after purchasing an additional 677 shares during the period. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $40.00 price objective on shares of Ouster in a research report on Tuesday, March 3rd. Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Weiss Ratings assumed coverage on Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating for the company. Finally, Roth Mkm assumed coverage on Ouster in a research report on Friday, May 29th. They set a “buy” rating and a $75.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.17.

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.