Darien Spencer Sells 18,274 Shares of Ouster (NYSE:OUST) Stock

Key Points

• Darien Spencer, the COO of Ouster, sold 18,274 shares of the company's stock at an average price of $28.46, totaling approximately $520,078, which represents a 5.01% decrease in his position.
• Ouster's stock is experiencing increased trading activity, with a recent midday trading price of $29.75 and a trading volume higher than its average, reflecting positive market momentum.
• A number of institutional investors have significantly increased their holdings in Ouster, with NewEdge Advisors increasing their stake by 2,532.6% in the second quarter.

Ouster, Inc. (NYSE:OUST - Get Free Report) COO Darien Spencer sold 18,274 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $28.46, for a total transaction of $520,078.04. Following the completion of the transaction, the chief operating officer directly owned 346,132 shares of the company's stock, valued at approximately $9,850,916.72. The trade was a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ouster Price Performance

Shares of NYSE OUST traded up $0.78 during midday trading on Tuesday, hitting $29.75. The company's stock had a trading volume of 2,958,935 shares, compared to its average volume of 2,204,280. The business's fifty day simple moving average is $27.73 and its two-hundred day simple moving average is $17.40. Ouster, Inc. has a 1 year low of $5.91 and a 1 year high of $36.25. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -11.58 and a beta of 2.75.

Hedge Funds Weigh In On Ouster

A number of institutional investors have recently modified their holdings of OUST. NewEdge Advisors LLC increased its holdings in shares of Ouster by 2,532.6% in the 2nd quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock valued at $27,000 after acquiring an additional 1,089 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Ouster by 153.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company's stock valued at $29,000 after acquiring an additional 733 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Ouster by 8,823.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,517 shares of the company's stock valued at $37,000 after acquiring an additional 1,500 shares during the period. Byrne Asset Management LLC purchased a new position in Ouster in the 1st quarter valued at $39,000. Finally, FNY Investment Advisers LLC purchased a new position in Ouster in the 1st quarter valued at $49,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OUST shares. Westpark Capital upgraded shares of Ouster from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Cantor Fitzgerald reissued a "neutral" rating and set a $19.00 price objective on shares of Ouster in a report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $15.95.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.

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