Ouster (NASDAQ:OUST) Shares Down 4.7% After Insider Selling

Ouster, Inc. (NASDAQ:OUST) was down 4.7% on Wednesday after an insider sold shares in the company. The company traded as low as $40.30 and last traded at $40.72. Approximately 4,144,009 shares were traded during mid-day trading, an increase of 42% from the average daily volume of 2,913,661 shares. The stock had previously closed at $42.73.

Specifically, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the sale, the chief executive officer owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of Ouster stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $2,109,362.34. Following the sale, the chief financial officer directly owned 301,014 shares of the company’s stock, valued at $11,685,363.48. This represents a 15.29% decrease in their position. The SEC filing for this sale provides additional information.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OUST shares. Roth Mkm started coverage on Ouster in a report on Friday, May 29th. They set a “buy” rating and a $75.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $40.00 target price on shares of Ouster in a report on Tuesday, March 3rd. Rosenblatt Securities lifted their target price on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings started coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Finally, Cantor Fitzgerald downgraded Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Four investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.17.

Ouster Price Performance

The company has a market cap of $2.56 billion, a P/E ratio of -41.98 and a beta of 3.24. The stock has a 50-day moving average of $32.17 and a 200 day moving average of $25.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OUST. NewEdge Advisors LLC grew its position in Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after acquiring an additional 1,089 shares during the last quarter. Larson Financial Group LLC grew its position in Ouster by 118.8% in the fourth quarter. Larson Financial Group LLC now owns 1,965 shares of the company’s stock valued at $43,000 after acquiring an additional 1,067 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Ouster by 38.1% in 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. SHP Wealth Management bought a new position in Ouster in the fourth quarter valued at about $96,000. Finally, Van ECK Associates Corp grew its position in Ouster by 17.1% in 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. 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.