Baird Financial Group Inc. Makes New $25.22 Million Investment in Ouster, Inc. $OUST

Key Points

• Baird Financial Group purchased 403,365 Ouster shares worth approximately $25.22 million, giving it a 0.56% stake. Institutional investors collectively own 31.45% of the company.
• Analyst sentiment is generally positive, with Ouster receiving a “Moderate Buy” consensus rating and an average price target of $54.67, although ratings range from “Buy” to “Sell.”
• Ouster shares opened at $35.23, down 2.8%, after the company reported a quarterly loss of $0.26 per share—worse than expected—despite revenue of $54.63 million exceeding estimates. Insiders also sold $3.47 million of stock during the quarter.

Baird Financial Group Inc. purchased a new stake in shares of Ouster, Inc. (NASDAQ:OUST - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 403,365 shares of the company's stock, valued at approximately $25,218,000. Baird Financial Group Inc. owned about 0.56% of Ouster at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OUST. NewEdge Advisors LLC increased its stake in shares of Ouster by 2,532.6% during the second 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. Allworth Financial LP boosted its stake in Ouster by 40.3% during the 2nd quarter. Allworth Financial LP now owns 1,190 shares of the company's stock valued at $74,000 after purchasing an additional 342 shares in the last quarter. Orion Capital Management LLC increased its position in shares of Ouster by 195.7% during the 2nd quarter. Orion Capital Management LLC now owns 1,511 shares of the company's stock valued at $94,000 after purchasing an additional 1,000 shares during the period. Larson Financial Group LLC raised its stake in shares of Ouster by 118.8% in 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 in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Ouster in the second quarter valued at $150,000. 31.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OUST shares. Oppenheimer reissued 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. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research report on Wednesday, August 12th. Northland Securities set a $60.00 target price on Ouster and gave the stock an "outperform" rating in a research report on Tuesday, July 21st. Rosenblatt Securities restated a "buy" rating and set a $53.00 price objective on shares of Ouster in a report on Thursday, August 27th. Finally, Citigroup restated an "outperform" rating on shares of Ouster in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ouster presently has an average rating of "Moderate Buy" and an average target price of $54.67.

Insiders Place Their Bets

In other news, COO Darien Spencer sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief operating officer directly owned 299,806 shares in the company, valued at $13,491,270. The trade was a 9.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth P. Gianella sold 40,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $45.33, for a total transaction of $1,813,200.00. Following the completion of the sale, the chief financial officer owned 261,014 shares in the company, valued at approximately $11,831,764.62. The trade was a 13.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 76,695 shares of company stock worth $3,470,567 over the last quarter. 5.72% of the stock is currently owned by company insiders.

Ouster Stock Down 2.8%

NASDAQ OUST opened at $35.23 on Friday. The stock has a market capitalization of $2.54 billion, a PE ratio of -40.96 and a beta of 3.25. Ouster, Inc. has a 12-month low of $16.40 and a 12-month high of $63.79. The company has a 50 day moving average price of $39.79 and a two-hundred day moving average price of $33.69.

Ouster (NASDAQ:OUST - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative net margin of 26.02% and a negative return on equity of 17.49%. As a group, equities analysts anticipate that Ouster, Inc. will post -1.07 EPS for the current year.

Ouster 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.

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