Wellington Management Group LLP Makes New $15.38 Million Investment in Ouster, Inc. $OUST

Wellington Management Group LLP purchased a new stake in Ouster, Inc. (NASDAQ:OUST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 246,061 shares of the company’s stock, valued at approximately $15,384,000.

Other institutional investors have also modified their holdings of the company. AWM Investment Company Inc. acquired a new stake in shares of Ouster in the second quarter valued at $9,843,000. Ranger Investment Management L.P. acquired a new position in shares of Ouster during the second quarter worth about $4,826,000. Bank of New York Mellon Corp acquired a new position in shares of Ouster during the second quarter worth about $11,192,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Ouster during the second quarter worth approximately $230,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Ouster during the second quarter worth approximately $150,000. Institutional investors and hedge funds own 31.45% of the company’s stock.

Ouster Stock Performance

OUST opened at $36.43 on Tuesday. Ouster, Inc. has a one year low of $16.40 and a one year high of $63.79. The stock has a market capitalization of $2.63 billion, a P/E ratio of -42.36 and a beta of 3.25. The business’s 50-day simple moving average is $41.06 and its 200-day simple moving average is $33.32.

Ouster (NASDAQ:OUST) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.14). The firm had revenue of $54.63 million for the quarter, compared to analysts’ expectations of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. On average, equities research analysts forecast that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling at Ouster

In other news, Director Stephen Skaggs sold 3,614 shares of Ouster stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $45.18, for a total value of $163,280.52. Following the transaction, the director directly owned 61,415 shares of the company’s stock, valued at $2,774,729.70. The trade was a 5.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Darien Spencer sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief operating officer owned 299,806 shares of the company’s stock, valued at approximately $13,491,270. This trade represents a 9.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,829 shares of company stock valued at $6,736,649. 5.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ouster in a report on Wednesday, August 12th. Northland Securities set a $60.00 price objective on shares of Ouster and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Roth Capital began coverage on Ouster in a report on Friday, May 29th. They issued a “buy” rating and a $75.00 target price on the stock. Citigroup restated an “outperform” rating on shares of Ouster in a research note on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $57.00 price target (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.67.

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.