Los Angeles Capital Management LLC Buys New Stake in Ouster, Inc. $OUST

Los Angeles Capital Management LLC purchased a new position in shares of Ouster, Inc. (NYSE:OUST) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,398 shares of the company’s stock, valued at approximately $761,000.

Other hedge funds also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Ouster during the second quarter worth about $2,397,000. Invesco Ltd. grew its stake in shares of Ouster by 71.3% in the first quarter. Invesco Ltd. now owns 35,249 shares of the company’s stock valued at $317,000 after buying an additional 14,674 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Ouster during the 1st quarter valued at about $236,000. Graham Capital Management L.P. lifted its position in Ouster by 57.1% during the 1st quarter. Graham Capital Management L.P. now owns 99,309 shares of the company’s stock worth $892,000 after acquiring an additional 36,081 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Ouster by 29.6% in the 1st quarter. Russell Investments Group Ltd. now owns 114,421 shares of the company’s stock worth $1,027,000 after acquiring an additional 26,103 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Stock Down 7.8%

Shares of Ouster stock opened at $22.50 on Friday. The business has a 50-day moving average price of $30.17 and a 200 day moving average price of $24.00. Ouster, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $41.65. The firm has a market cap of $1.30 billion, a P/E ratio of -8.75 and a beta of 2.74.

Insiders Place Their Bets

In other Ouster news, COO Darien Spencer sold 18,274 shares of Ouster stock in a transaction on Friday, September 12th. The shares were sold at an average price of $28.46, for a total value of $520,078.04. Following the completion of the transaction, the chief operating officer owned 346,132 shares of the company’s stock, valued at $9,850,916.72. The trade was a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ted L. Tewksbury III sold 1,695 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $25.38, for a total transaction of $43,019.10. Following the sale, the director owned 125,359 shares of the company’s stock, valued at approximately $3,181,611.42. The trade was a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 106,310 shares of company stock worth $3,035,305. Corporate insiders own 6.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OUST. Westpark Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Ouster in a research note on Wednesday, November 5th. Zacks Research lowered shares of Ouster from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Northland Securities set a $38.00 price target on shares of Ouster in a research note on Wednesday, November 5th. Oppenheimer reissued an “outperform” rating and issued a $39.00 price objective on shares of Ouster in a research report on Wednesday, November 5th. Finally, Cantor Fitzgerald set a $33.00 target price on Ouster in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ouster presently has a consensus rating of “Buy” and an average target price of $32.17.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.