Bank of New York Mellon Corp Takes Position in Ouster, Inc. $OUST

Key Points

• Bank of New York Mellon acquired 179,008 Ouster shares worth approximately $11.2 million, giving it a 0.29% stake. Institutional investors collectively own 31.45% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $54.67, despite one sell rating.
• Ouster exceeded quarterly revenue expectations with $54.63 million but missed on earnings, reporting a loss of $0.26 per share versus the expected $0.12 loss. Insiders also sold $6.74 million worth of shares during the last quarter.

Bank of New York Mellon Corp acquired a new position in shares of Ouster, Inc. (NASDAQ:OUST - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 179,008 shares of the company's stock, valued at approximately $11,192,000. Bank of New York Mellon Corp owned about 0.29% of Ouster at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in 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 purchasing an additional 1,089 shares during the last quarter. Larson Financial Group LLC increased its position in Ouster by 118.8% during the fourth 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 acquired a new position in Ouster during the fourth quarter worth approximately $96,000. Van ECK Associates Corp raised its stake in Ouster by 17.1% in the third quarter. Van ECK Associates Corp now owns 3,590 shares of the company's stock valued at $97,000 after buying an additional 525 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Ouster by 139.9% in the fourth quarter. Global Retirement Partners LLC now owns 4,622 shares of the company's stock valued at $100,000 after buying an additional 2,695 shares during the period. 31.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on OUST. Citigroup reaffirmed an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Northland Securities set a $60.00 price target on Ouster and gave the company an "outperform" rating in a report on Tuesday, July 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $53.00 price target on shares of Ouster in a report on Thursday, August 27th. Finally, Roth Capital initiated coverage on shares of Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 price objective for the company. Six equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.67.

Ouster Trading Up 4.7%

Shares of NASDAQ OUST opened at $34.83 on Thursday. The firm has a market cap of $2.51 billion, a P/E ratio of -40.50 and a beta of 3.25. Ouster, Inc. has a 1-year low of $16.40 and a 1-year high of $63.79. The business's 50 day moving average is $41.64 and its 200-day moving average is $32.95.

Ouster (NASDAQ:OUST - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. Analysts forecast that Ouster, Inc. will post -1.07 EPS for the current year.

Insider Buying and Selling

In other news, CEO Charles Angus Pacala sold 29,797 shares of Ouster stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $1,156,719.54. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Skaggs sold 3,614 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $45.18, for a total value of $163,280.52. Following the completion of the sale, the director owned 61,415 shares of the company's stock, valued at approximately $2,774,729.70. This trade represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,829 shares of company stock valued at $6,736,649 in the last quarter. Corporate insiders own 5.72% of the company's stock.

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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