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

Ouster, Inc. (NASDAQ:OUST) CFO Kenneth Gianella sold 40,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $45.33, for a total transaction of $1,813,200.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website.

Ouster Trading Down 6.8%

Ouster stock opened at $40.06 on Thursday. Ouster, Inc. has a 1-year low of $16.40 and a 1-year high of $63.79. The firm has a market capitalization of $2.89 billion, a PE ratio of -46.58 and a beta of 3.24. The firm’s 50 day simple moving average is $43.18 and its 200 day simple moving average is $31.81.

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

Hedge Funds Weigh In On Ouster

A number of hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Ouster by 50.3% during the first quarter. California State Teachers Retirement System now owns 79,401 shares of the company’s stock worth $1,459,000 after acquiring an additional 26,574 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ouster during the 1st quarter valued at $2,436,000. Dimensional Fund Advisors LP raised its position in Ouster by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company’s stock worth $8,889,000 after purchasing an additional 32,440 shares during the period. Bastion Asset Management Inc. bought a new stake in Ouster in the first quarter worth $5,271,000. Finally, Janus Henderson Group PLC lifted its stake in Ouster by 706.0% in the first quarter. Janus Henderson Group PLC now owns 177,895 shares of the company’s stock worth $3,268,000 after purchasing an additional 155,825 shares during the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Rosenblatt Securities restated a “buy” rating and issued a $53.00 price objective on shares of Ouster in a research report on Friday, August 7th. Northland Securities set a $60.00 target price on shares of Ouster and gave the company 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 research report on Thursday, May 7th. Finally, Citigroup reissued an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned 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.

Ouster Company 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.