Kornitzer Capital Management Inc. KS Makes New Investment in Ouster, Inc. $OUST

Kornitzer Capital Management Inc. KS purchased a new position in shares of Ouster, Inc. (NASDAQ:OUST) during the first quarter, HoldingsChannel.com reports. The fund purchased 38,344 shares of the company’s stock, valued at approximately $704,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in shares of Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock valued at $2,661,000 after purchasing an additional 254,580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ouster by 7.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock valued at $255,000 after buying an additional 2,037 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Ouster by 138.2% in the second quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock valued at $242,000 after buying an additional 5,796 shares during the period. American Century Companies Inc. increased its position in shares of Ouster by 22.0% during the second quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock worth $1,535,000 after acquiring an additional 11,416 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after acquiring an additional 536,413 shares during the period. Institutional investors own 31.45% of the company’s stock.

Insider Buying and Selling

In related news, CTO Mark Frichtl sold 308,742 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total transaction of $12,822,055.26. Following the transaction, the chief technology officer directly owned 294,924 shares in the company, valued at approximately $12,248,193.72. The trade was a 51.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth P. Gianella sold 54,337 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $38.82, for a total transaction of $2,109,362.34. Following the sale, the chief financial officer directly owned 301,014 shares in the company, valued at $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 910,591 shares of company stock worth $32,578,780 in the last quarter. 5.72% of the stock is owned by company insiders.

Ouster Price Performance

Ouster stock opened at $43.28 on Monday. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -44.62 and a beta of 3.17. The firm has a 50-day moving average of $40.61 and a 200-day moving average of $28.67. Ouster, Inc. has a one year low of $16.40 and a one year high of $63.79.

Ouster (NASDAQ:OUST) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $48.58 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted ($0.42) EPS. As a group, sell-side analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

OUST has been the subject of a number of research analyst reports. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities boosted their price target on Ouster from $40.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings initiated coverage on Ouster in a report on Friday, May 15th. They set a “sell (d-)” rating for the company. Finally, Roth Capital initiated coverage on Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price on the stock. Four investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.