Bank of America Corp DE Has $3.99 Million Stock Holdings in Ouster, Inc. $OUST

Key Points

• Bank of America more than doubled its Ouster stake in the first quarter, reaching 217,390 shares valued at approximately $3.99 million. Institutional investors and hedge funds collectively own 31.45% of Ouster.
• Ouster reported quarterly revenue of $54.63 million, exceeding estimates, but its adjusted loss of $0.26 per share was wider than expected. Analysts forecast a full-year loss of $1.07 per share.
• Analyst sentiment is mixed but leans positive, with six Buy ratings, two Holds and one Sell; the average price target is $54.67 versus a recent share price of $34.62. Meanwhile, insiders have sold 160,829 shares worth $6.74 million over the past 90 days.

Bank of America Corp DE raised its holdings in Ouster, Inc. (NASDAQ:OUST - Free Report) by 114.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 217,390 shares of the company's stock after buying an additional 116,096 shares during the period. Bank of America Corp DE owned about 0.35% of Ouster worth $3,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OUST. Janus Henderson Group PLC raised its holdings in shares of Ouster by 706.0% in the 1st quarter. Janus Henderson Group PLC now owns 177,895 shares of the company's stock worth $3,268,000 after acquiring an additional 155,825 shares during the last quarter. Amundi lifted its position in Ouster by 40.1% in the 1st quarter. Amundi now owns 21,921 shares of the company's stock valued at $403,000 after acquiring an additional 6,278 shares in the last quarter. California State Teachers Retirement System boosted its stake in Ouster by 50.3% during the 1st quarter. California State Teachers Retirement System now owns 79,401 shares of the company's stock valued at $1,459,000 after purchasing an additional 26,574 shares during the last quarter. Royal Bank of Canada boosted its stake in Ouster by 34.4% during the 1st quarter. Royal Bank of Canada now owns 5,888 shares of the company's stock valued at $108,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Ouster during the 1st quarter worth approximately $192,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Price Performance

Shares of NASDAQ:OUST opened at $34.62 on Friday. Ouster, Inc. has a 1 year low of $16.40 and a 1 year high of $63.79. The business has a fifty day moving average price of $42.26 and a two-hundred day moving average price of $32.55. The company has a market capitalization of $2.50 billion, a PE ratio of -40.26 and a beta of 3.24.

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

Insider Transactions at Ouster

In related news, COO Darien Spencer sold 30,000 shares of Ouster stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.00, for a total value 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Angus Pacala sold 29,797 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,072,201 shares in the company, valued at approximately $41,622,842.82. This trade represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 160,829 shares of company stock valued at $6,736,649. 5.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented 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 research report on Wednesday, July 15th. Cantor Fitzgerald downgraded shares of Ouster from an "overweight" rating to a "neutral" rating in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Roth Capital began coverage on shares of Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 price target on the stock. Finally, Northland Securities set a $60.00 price target on shares of Ouster and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ouster currently has an average rating of "Moderate Buy" and an average 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.

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