Kenneth Gianella Sells 40,000 Shares of Ouster (NASDAQ:OUST) Stock

Ouster, Inc. (NASDAQ:OUSTGet Free Report) CFO Kenneth Gianella sold 40,000 shares of Ouster stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $45.33, for a total transaction of $1,813,200.00. Following the transaction, the chief financial officer directly owned 261,014 shares in the company, valued at approximately $11,831,764.62. The trade was a 13.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ouster Price Performance

OUST opened at $37.95 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of -44.13 and a beta of 3.24. The business’s 50-day moving average is $43.14 and its two-hundred day moving average is $31.93. Ouster, Inc. has a 1 year low of $16.40 and a 1 year high of $63.79.

Ouster (NASDAQ:OUSTGet Free Report) last announced 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). The business had revenue of $54.63 million for the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. As a group, sell-side analysts expect that Ouster, Inc. will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OUST shares. Rosenblatt Securities reiterated a “buy” rating and set a $53.00 price objective on shares of Ouster in a research note on Friday, August 7th. Cantor Fitzgerald lowered Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Roth Capital initiated coverage on Ouster in a research note on Friday, May 29th. They set a “buy” rating and a $75.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.67.

Read Our Latest Report on Ouster

Institutional Trading of Ouster

Several large investors have recently made changes to their positions in OUST. AQR Capital Management LLC lifted its position in Ouster by 610.1% during the first 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. grew its position in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after purchasing an additional 2,037 shares during the period. Legal & General Group Plc grew its position in Ouster by 138.2% during the 2nd quarter. Legal & General Group Plc now owns 9,990 shares of the company’s stock worth $242,000 after purchasing an additional 5,796 shares during the period. American Century Companies Inc. raised its stake in shares of Ouster by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 63,298 shares of the company’s stock valued at $1,535,000 after buying an additional 11,416 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Ouster by 1,521.8% during the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after buying an additional 536,413 shares during the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

About Ouster

(Get Free Report)

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.

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