Insider Selling: Ouster (NASDAQ:OUST) CEO Sells $1,156,719.54 in Stock

Ouster, Inc. (NASDAQ:OUST) CEO Charles Angus Pacala sold 29,797 shares of the firm’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 owned 1,072,201 shares in the company, valued at $41,622,842.82. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Ouster Stock Up 14.4%

Shares of OUST stock opened at $46.57 on Friday. The business has a 50-day moving average price of $33.14 and a two-hundred day moving average price of $25.92. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $49.39. The firm has a market cap of $2.92 billion, a P/E ratio of -48.01 and a beta of 3.24.

Ouster (NASDAQ:OUST) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $48.58 million for the quarter, compared to the consensus estimate of $46.15 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. During the same quarter last year, the company posted ($0.42) earnings per share. As a group, research analysts expect that Ouster, Inc. will post -1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Ouster

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in Ouster by 2,532.6% in the 2nd 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 boosted its stake 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 valued at $43,000 after purchasing an additional 1,067 shares during the period. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Ouster by 38.1% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 2,900 shares of the company’s stock worth $78,000 after purchasing an additional 800 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock worth $97,000 after purchasing an additional 525 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Ouster in the third quarter worth $120,000. 31.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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