Ouster (NASDAQ:OUST) Director Stephen Skaggs Sells 5,000 Shares of Company Stock

Ouster, Inc. (NASDAQ:OUST) Director Stephen Skaggs sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. Following the sale, the director owned 56,415 shares in the company, valued at $1,918,110. This trade represents a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ouster Price Performance

Shares of Ouster stock traded down $0.35 on Tuesday, hitting $38.22. The company had a trading volume of 2,632,953 shares, compared to its average volume of 3,087,473. The firm has a market capitalization of $2.76 billion, a P/E ratio of -55.39 and a beta of 3.47. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79. The stock has a 50-day moving average of $35.44 and a 200-day moving average of $32.60.

Ouster (NASDAQ:OUST) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The company had revenue of $59.33 million for the quarter, compared to the consensus estimate of $56.30 million. Equities analysts predict that Ouster, Inc. will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OUST. Voya Investment Management LLC increased its position in shares of Ouster by 6,298.0% during the 3rd quarter. Voya Investment Management LLC now owns 763,983 shares of the company’s stock worth $30,819,000 after purchasing an additional 752,042 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Ouster by 25.6% during the 3rd quarter. Global Retirement Partners LLC now owns 8,150 shares of the company’s stock worth $329,000 after purchasing an additional 1,662 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Ouster by 95.6% in the 3rd quarter. HighTower Advisors LLC now owns 8,515 shares of the company’s stock valued at $343,000 after buying an additional 4,162 shares during the last quarter. Aberdeen Group plc acquired a new stake in shares of Ouster in the 3rd quarter valued at approximately $16,777,000. Finally, Csenge Advisory Group acquired a new stake in shares of Ouster in the 3rd quarter valued at approximately $573,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of Ouster in a report on Wednesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ouster in a research report on Wednesday, August 12th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and set a $45.00 target price for the company in a report on Wednesday, November 4th. Citigroup reaffirmed an “outperform” rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Northland Securities set a $60.00 price target on shares of Ouster and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

About Ouster

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.