Ouster (NYSE:OUST) Trading Down 9.2% on Insider Selling

Ouster, Inc. (NYSE:OUST) was down 9.2% during trading on Friday after an insider sold shares in the company. The stock traded as low as $31.06 and last traded at $31.6650. Approximately 1,257,992 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 2,365,255 shares. The stock had previously closed at $34.86.

Specifically, CTO Mark Frichtl sold 136,434 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $32.56, for a total value of $4,442,291.04. Following the completion of the sale, the chief technology officer owned 628,638 shares of the company’s stock, valued at $20,468,453.28. This trade represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Mark Frichtl sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $35.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief technology officer directly owned 628,638 shares of the company’s stock, valued at approximately $22,002,330. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In related news, CTO Mark Frichtl sold 4,316 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $36.00, for a total value of $155,376.00. Following the completion of the sale, the chief technology officer owned 628,638 shares of the company’s stock, valued at $22,630,968. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Ratings Changes

A number of analysts recently weighed in on OUST shares. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ouster presently has a consensus rating of “Moderate Buy” and an average price target of $40.20.

Ouster Stock Performance

The stock has a 50 day moving average price of $23.50 and a two-hundred day moving average price of $23.42. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -13.56 and a beta of 3.06.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quantinno Capital Management LP acquired a new position in shares of Ouster in the 1st quarter valued at $192,000. Renaissance Technologies LLC acquired a new position in shares of Ouster in the 1st quarter valued at $2,436,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ouster in the 1st quarter valued at $8,915,000. Sei Investments Co. lifted its stake in shares of Ouster by 87.8% in the 1st quarter. Sei Investments Co. now owns 193,818 shares of the company’s stock valued at $3,560,000 after purchasing an additional 90,597 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Ouster by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock valued at $8,889,000 after purchasing an additional 32,440 shares during the period. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.