Sei Investments Co. Raises Stake in Ouster, Inc. $OUST

Sei Investments Co. increased its holdings in Ouster, Inc. (NASDAQ:OUST) by 87.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,818 shares of the company’s stock after buying an additional 90,597 shares during the quarter. Sei Investments Co.’s holdings in Ouster were worth $3,560,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted 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 acquiring an additional 525 shares during the period. Main Management ETF Advisors LLC raised its holdings in shares of Ouster by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 54,810 shares of the company’s stock worth $1,186,000 after purchasing an additional 560 shares during the last quarter. Corient Private Wealth LLC lifted its position in Ouster by 5.5% during the second 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. boosted its holdings in Ouster by 5.5% in the third 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 last quarter. Finally, Creative Planning boosted its holdings in Ouster by 1.6% in the third 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 last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Northland Securities set a $60.00 target price on Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Rosenblatt Securities raised 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. Citigroup reiterated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Roth Capital began coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target for the company. Six 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.67.

Ouster Stock Performance

OUST opened at $45.58 on Friday. The company has a fifty day moving average of $42.85 and a two-hundred day moving average of $30.56. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -46.99 and a beta of 3.24. Ouster, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $63.79.

Ouster (NASDAQ:OUST) last posted its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.14). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The firm had revenue of $54.63 million for the quarter, compared to analysts’ expectations of $51.47 million. On average, equities research analysts forecast that Ouster, Inc. will post -1.03 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Mark Frichtl sold 308,742 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $41.53, for a total value of $12,822,055.26. Following the completion of the transaction, the chief technology officer owned 294,924 shares of the company’s stock, valued at approximately $12,248,193.72. This represents a 51.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $38.82, for a total value of $1,156,719.54. Following the transaction, the chief executive officer owned 1,072,201 shares in the company, valued at $41,622,842.82. This represents a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 739,754 shares of company stock worth $28,702,157 in the last ninety days. 5.72% of the stock is owned by corporate insiders.

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.