Wellington Management Group LLP Buys Shares of 246,061 Ouster, Inc. $OUST

Wellington Management Group LLP bought a new position in Ouster, Inc. (NASDAQ:OUSTFree Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 246,061 shares of the company’s stock, valued at approximately $15,384,000. Wellington Management Group LLP owned about 0.34% of Ouster as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company’s stock valued at $97,000 after purchasing an additional 525 shares during the period. Main Management ETF Advisors LLC raised its stake in 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 period. Corient Private Wealth LLC raised its stake in Ouster by 5.5% during the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company’s stock worth $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 3rd 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 3rd 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. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Ouster Price Performance

Shares of OUST opened at $36.43 on Tuesday. The firm has a 50-day simple moving average of $41.06 and a two-hundred day simple moving average of $33.32. The stock has a market cap of $2.63 billion, a PE ratio of -42.36 and a beta of 3.25. Ouster, Inc. has a 1-year low of $16.40 and a 1-year high of $63.79.

Ouster (NASDAQ:OUSTGet Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The company had revenue of $54.63 million during the quarter, compared to analyst estimates of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. As a group, sell-side analysts expect that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Insider Activity at Ouster

In related news, CEO Charles Pacala sold 29,797 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darien Spencer sold 30,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total value of $1,350,000.00. Following the transaction, the chief operating officer directly owned 299,806 shares in the company, valued at approximately $13,491,270. The trade was a 9.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,829 shares of company stock valued at $6,736,649 over the last ninety days. 5.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Roth Capital started coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Rosenblatt Securities reissued a “buy” rating and set a $53.00 target price on shares of Ouster in a research note on Thursday, August 27th. Finally, Northland Securities set a $60.00 target price on Ouster and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.67.

View Our Latest Stock Report on OUST

About Ouster

(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.

Further Reading

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Institutional Ownership by Quarter for Ouster (NASDAQ:OUST)

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