Ouster, Inc. $OUST Stock Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Ouster stake by 949.9% in the third quarter, bringing its holdings to 64,587 shares worth approximately $2.64 million. Institutional investors collectively own 31.45% of Ouster.
• Ouster reported quarterly revenue of $54.63 million, exceeding expectations, but its adjusted loss of $0.26 per share was wider than analysts’ forecast. The company remains unprofitable, with analysts expecting a full-year loss of $1.07 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $54.67, although company insiders sold 173,037 shares worth about $6.72 million over the past 90 days.

TD Waterhouse Canada Inc. boosted its stake in shares of Ouster, Inc. (NASDAQ:OUST - Free Report) by 949.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,587 shares of the company's stock after acquiring an additional 58,435 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.09% of Ouster worth $2,642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in shares of 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. Renaissance Technologies LLC purchased a new stake in Ouster during the 1st quarter valued at $2,436,000. Wellington Management Group LLP purchased a new stake in Ouster during the 2nd quarter valued at $15,384,000. Tidal Investments LLC bought a new stake in Ouster in the second quarter worth $2,172,000. Finally, Dimensional Fund Advisors LP lifted its position in Ouster by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 483,871 shares of the company's stock worth $8,889,000 after buying an additional 32,440 shares during the last quarter. 31.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Kenneth Gianella sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $45.33, for a total value of $1,813,200.00. Following the transaction, the chief financial officer owned 261,014 shares of the company's stock, valued at $11,831,764.62. This represents a 13.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mark Frichtl sold 18,778 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the transaction, the chief technology officer owned 318,987 shares in the company, valued at $10,832,798.52. The trade was a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,037 shares of company stock valued at $6,720,238 over the last 90 days. 5.72% of the stock is owned by insiders.

Ouster Price Performance

Shares of OUST stock opened at $29.65 on Wednesday. The company has a market capitalization of $2.14 billion, a P/E ratio of -34.48 and a beta of 3.23. The company's 50-day simple moving average is $37.89 and its two-hundred day simple moving average is $37.06. Ouster, Inc. has a one year low of $16.40 and a one year high of $63.79.

Ouster (NASDAQ:OUST - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $51.47 million. On average, research analysts expect that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OUST has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Rosenblatt Securities reissued a "buy" rating and issued a $53.00 target price on shares of Ouster in a research note on Thursday, August 27th. Citigroup reissued an "outperform" rating on shares of Ouster in a research note on Tuesday, July 21st. Northland Securities set a $60.00 target price on shares of Ouster and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $57.00 price target (up from $42.00) on shares of Ouster in a research note on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.67.

Ouster Company Profile

Ouster, Inc is a technology company that develops and manufactures digital lidar sensors and related software. Its lidar systems use laser light to detect and measure surrounding objects, supporting applications that require real-time perception, mapping, and automation.

The company's products are designed for customers in the automotive, industrial automation, robotics, infrastructure, mapping, security, and smart-city markets. Ouster provides lidar sensors for uses such as autonomous and assisted driving, warehouse and industrial operations, traffic monitoring, asset inspection, and other machine-perception applications.

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