Arrowstreet Capital Limited Partnership Buys Shares of 485,279 Ouster, Inc. $OUST

Key Points

• Arrowstreet Capital initiated a position in Ouster, purchasing 485,279 shares worth approximately $8.9 million, representing about 0.77% of the company. Institutional investors and hedge funds collectively own 31.45% of Ouster.
• Ouster shares were trading at $39.01, with a market capitalization of approximately $2.45 billion. The company’s latest quarterly revenue of $48.58 million exceeded estimates, but its loss of $0.28 per share was wider than expected.
• Analyst sentiment remains mixed but leans positive: Ouster has a “Moderate Buy” consensus rating and an average price target of $54.67, while insiders sold 749,354 shares worth about $28.5 million over the past 90 days.

Arrowstreet Capital Limited Partnership purchased a new stake in Ouster, Inc. (NASDAQ:OUST - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 485,279 shares of the company's stock, valued at approximately $8,915,000. Arrowstreet Capital Limited Partnership owned approximately 0.77% of Ouster at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of OUST. NewEdge Advisors LLC lifted its stake 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 worth $27,000 after acquiring an additional 1,089 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Ouster by 118.8% during the 4th quarter. Larson Financial Group LLC now owns 1,965 shares of the company's stock worth $43,000 after buying an additional 1,067 shares during the last quarter. SHP Wealth Management bought a new position in Ouster during the 4th quarter worth approximately $96,000. Van ECK Associates Corp grew its position in shares of Ouster by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock worth $97,000 after acquiring an additional 525 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Ouster by 139.9% in the 4th quarter. Global Retirement Partners LLC now owns 4,622 shares of the company's stock worth $100,000 after acquiring an additional 2,695 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Mark Frichtl sold 308,742 shares of Ouster stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $41.53, for a total value of $12,822,055.26. Following the transaction, the chief technology officer owned 294,924 shares in the company, valued at $12,248,193.72. This trade represents a 51.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Angus Pacala sold 29,797 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total transaction of $1,156,719.54. Following the completion of the transaction, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. The trade was a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 749,354 shares of company stock worth $28,542,907 in the last ninety days. 5.72% of the stock is owned by insiders.

Ouster Trading Up 9.8%

Shares of NASDAQ OUST opened at $39.01 on Friday. Ouster, Inc. has a one year low of $16.40 and a one year high of $63.79. The business has a 50-day moving average price of $42.56 and a two-hundred day moving average price of $30.03. The firm has a market capitalization of $2.45 billion, a PE ratio of -40.22 and a beta of 3.17.

Ouster (NASDAQ:OUST - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. The business had revenue of $48.58 million during the quarter, compared to analyst estimates of $46.15 million. During the same quarter in the prior year, the company earned ($0.42) EPS. Research analysts anticipate that Ouster, Inc. will post -1.03 EPS for the current year.

Analyst Upgrades and Downgrades

OUST has been the topic of several research reports. Cantor Fitzgerald lowered Ouster from an "overweight" rating to a "neutral" rating in a research report on Thursday, May 7th. Weiss Ratings initiated coverage on shares of Ouster in a research note on Friday, May 15th. They set a "sell (d-)" rating for the company. Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They set a "buy" rating and a $75.00 target price on the stock. Northland Securities set a $60.00 price target on shares of Ouster and gave the company an "outperform" rating in a report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $57.00 price objective (up from $42.00) on shares of Ouster in a research report on Wednesday, July 15th. Six research 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's stock. According to data from MarketBeat.com, Ouster has an average rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.