Essex Investment Management Co. LLC Lowers Stock Holdings in Ouster, Inc. $OUST

Essex Investment Management Co. LLC reduced its stake in Ouster, Inc. (NYSE:OUST) by 25.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,664 shares of the company’s stock after selling 64,508 shares during the period. Essex Investment Management Co. LLC owned 0.32% of Ouster worth $5,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OUST. NewEdge Advisors LLC boosted its holdings in shares of Ouster by 2,532.6% in the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company’s stock valued at $27,000 after purchasing an additional 1,089 shares during the period. Nisa Investment Advisors LLC raised its position in Ouster by 153.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company’s stock valued at $29,000 after purchasing an additional 733 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Ouster by 8,823.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company’s stock worth $37,000 after buying an additional 1,500 shares in the last quarter. North Capital Inc. grew its position in shares of Ouster by 102.7% during the 2nd quarter. North Capital Inc. now owns 3,000 shares of the company’s stock worth $73,000 after buying an additional 1,520 shares in the last quarter. Finally, Quaker Wealth Management LLC purchased a new position in shares of Ouster during the second quarter valued at $79,000. 31.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OUST has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating on shares of Ouster in a research note on Thursday, December 4th. Zacks Research cut shares of Ouster from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Northland Securities set a $38.00 price objective on shares of Ouster in a research note on Wednesday, November 5th. Cantor Fitzgerald set a $33.00 price objective on shares of Ouster in a research note on Thursday, November 6th. Finally, Westpark Capital restated a “buy” rating and set a $50.00 target price on shares of Ouster in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.17.

Insider Activity at Ouster

In related news, Director Ted L. Tewksbury III sold 1,695 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $21.47, for a total value of $36,391.65. Following the completion of the transaction, the director owned 123,664 shares in the company, valued at $2,655,066.08. This trade represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Megan Chung sold 5,837 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $27.24, for a total value of $158,999.88. Following the sale, the general counsel owned 183,141 shares in the company, valued at approximately $4,988,760.84. The trade was a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.63% of the stock is currently owned by insiders.

Ouster Price Performance

Shares of NYSE:OUST opened at $21.06 on Tuesday. The firm has a market capitalization of $1.26 billion, a P/E ratio of -8.19 and a beta of 2.91. The business’s 50-day moving average is $23.70 and its 200 day moving average is $26.67. Ouster, Inc. has a 1 year low of $6.34 and a 1 year high of $41.65.

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.