Handelsbanken Fonder AB Reduces Holdings in Ouster, Inc. $OUST

Handelsbanken Fonder AB trimmed its position in shares of Ouster, Inc. (NASDAQ:OUST) by 84.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 95,674 shares of the company’s stock after selling 514,325 shares during the period. Handelsbanken Fonder AB’s holdings in Ouster were worth $5,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OUST. Invesco Ltd. raised its holdings in Ouster by 1,521.8% in the second quarter. Invesco Ltd. now owns 571,662 shares of the company’s stock worth $13,863,000 after purchasing an additional 536,413 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Ouster during the 1st quarter valued at $8,915,000. Squarepoint Ops LLC grew its position in shares of Ouster by 517.5% in the 4th quarter. Squarepoint Ops LLC now owns 401,727 shares of the company’s stock worth $8,693,000 after buying an additional 336,673 shares during the period. Bastion Asset Management Inc. purchased a new stake in shares of Ouster in the 1st quarter worth about $5,271,000. Finally, AQR Capital Management LLC grew its position in shares of Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after buying an additional 254,580 shares during the period. 31.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen A. Skaggs sold 3,614 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $45.18, for a total transaction of $163,280.52. Following the completion of the sale, the director owned 61,415 shares of the company’s stock, valued at $2,774,729.70. This represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Angus Pacala sold 29,797 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the sale, the chief executive officer directly owned 1,072,201 shares of the company’s stock, valued at approximately $41,622,842.82. This represents a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 554,004 shares of company stock worth $22,582,192. Company insiders own 5.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald lowered shares of Ouster from an “overweight” rating to a “neutral” rating in a report on Thursday, May 7th. Roth Capital began coverage on Ouster in a research report on Friday, May 29th. They issued a “buy” rating and a $75.00 price target on the stock. Citigroup restated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ouster in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

Ouster Price Performance

Shares of NASDAQ:OUST opened at $48.71 on Friday. The stock’s fifty day moving average price is $42.91 and its 200-day moving average price is $31.34. The company has a market cap of $3.51 billion, a P/E ratio of -56.64 and a beta of 3.24. Ouster, Inc. has a 1 year low of $16.40 and a 1 year high of $63.79.

Ouster (NASDAQ:OUST) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%.The company had revenue of $54.63 million during the quarter, compared to the consensus estimate of $51.47 million. On average, sell-side analysts anticipate that Ouster, Inc. will post -1.08 earnings per share for the current year.

Ouster Profile

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.