Ouster (NASDAQ:OUST) Director Stephen Skaggs Sells 5,000 Shares of Stock

Ouster, Inc. (NASDAQ:OUST) Director Stephen Skaggs sold 5,000 shares of Ouster stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. Following the transaction, the director owned 56,415 shares in the company, valued at approximately $1,918,110. The trade was a 8.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ouster Stock Down 0.9%

Shares of NASDAQ:OUST opened at $38.22 on Wednesday. The company’s fifty day moving average is $35.52 and its two-hundred day moving average is $32.66. The company has a market cap of $2.76 billion, a P/E ratio of -55.39 and a beta of 3.47. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79.

Ouster (NASDAQ:OUST) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The business had revenue of $59.33 million during the quarter, compared to analyst estimates of $56.30 million. Equities research analysts anticipate that Ouster, Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OUST shares. Cantor Fitzgerald upgraded Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Wednesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Oppenheimer reissued an “outperform” rating on shares of Ouster in a research report on Wednesday, November 4th. Citigroup reissued an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Institutional Trading of Ouster

Several large investors have recently added to or reduced their stakes in OUST. Voya Investment Management LLC increased its stake in shares of Ouster by 6,298.0% during the 3rd quarter. Voya Investment Management LLC now owns 763,983 shares of the company’s stock worth $30,819,000 after purchasing an additional 752,042 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Ouster by 25.6% in the 3rd quarter. Global Retirement Partners LLC now owns 8,150 shares of the company’s stock valued at $329,000 after purchasing an additional 1,662 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Ouster by 95.6% in the third quarter. HighTower Advisors LLC now owns 8,515 shares of the company’s stock worth $343,000 after purchasing an additional 4,162 shares in the last quarter. Aberdeen Group plc bought a new stake in Ouster in the third quarter worth $16,777,000. Finally, Csenge Advisory Group acquired a new position in Ouster during the third quarter worth $573,000. 31.45% of the stock is owned by institutional investors.

Ouster Company Profile

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.