Ouster (NASDAQ:OUST) Shares Down 5.3% Following Insider Selling

Ouster, Inc. (NASDAQ:OUST) shares traded down 5.3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $42.29 and last traded at $45.16. 4,200,716 shares traded hands during trading, an increase of 40% from the average daily volume of 2,998,668 shares. The stock had previously closed at $47.68.

Specifically, Director Ted L. Tewksbury III sold 1,695 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $47.00, for a total transaction of $79,665.00. Following the sale, the director owned 124,999 shares in the company, valued at $5,874,953. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm started coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities increased their price target on Ouster from $40.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings started coverage on shares of Ouster in a research report on Friday, May 15th. They set a “sell (d-)” rating for the company. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.17.

Ouster Price Performance

The company has a fifty day moving average price of $34.22 and a 200 day moving average price of $26.28. The stock has a market cap of $2.84 billion, a P/E ratio of -46.56 and a beta of 3.24.

Ouster (NASDAQ:OUST) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). Ouster had a negative return on equity of 21.49% and a negative net margin of 30.12%.The firm had revenue of $48.58 million during the quarter, compared to the consensus estimate of $46.15 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. As a group, sell-side analysts expect that Ouster, Inc. will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Ouster by 11.3% during the third quarter. Vanguard Group Inc. now owns 4,720,264 shares of the company’s stock valued at $127,683,000 after buying an additional 478,372 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Ouster by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company’s stock worth $30,758,000 after acquiring an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC raised its holdings in shares of Ouster by 24.1% in the 4th quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company’s stock worth $16,817,000 after acquiring an additional 150,337 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Ouster by 130.7% in the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company’s stock valued at $15,479,000 after acquiring an additional 405,441 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Ouster by 1,521.8% in the 2nd quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock valued at $13,863,000 after acquiring an additional 536,413 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company’s stock.

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.