Sei Investments Co. Boosts Stake in Ouster, Inc. $OUST

Key Points

• Sei Investments increased its Ouster stake by 87.8% in the first quarter, holding 193,818 shares valued at approximately $3.56 million. Institutional investors collectively own 31.45% of Ouster.
• Ouster reported quarterly revenue of $54.63 million, exceeding expectations, but its loss of $0.26 per share was wider than the forecasted $0.12 loss. Analysts expect a full-year loss of $1.03 per share.
• Analyst sentiment remains moderately bullish, with a consensus price target of $54.67 and six Buy, two Hold, and one Sell rating. However, insiders have sold 739,754 shares worth $28.7 million over the past three months.

Sei Investments Co. grew its stake in Ouster, Inc. (NASDAQ:OUST - Free Report) by 87.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,818 shares of the company's stock after acquiring an additional 90,597 shares during the quarter. Sei Investments Co. owned about 0.31% of Ouster worth $3,560,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Ouster by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,421,130 shares of the company's stock worth $30,758,000 after purchasing an additional 118,132 shares during the last quarter. Penn Capital Management Company LLC raised its holdings in Ouster by 24.1% in the fourth quarter. Penn Capital Management Company LLC now owns 775,297 shares of the company's stock worth $16,817,000 after purchasing an additional 150,337 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Ouster by 130.7% during the fourth quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company's stock valued at $15,479,000 after buying an additional 405,441 shares during the last quarter. Invesco Ltd. lifted its position in shares of Ouster by 1,521.8% during the second quarter. Invesco Ltd. now owns 571,662 shares of the company's stock valued at $13,863,000 after buying an additional 536,413 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ouster by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 487,438 shares of the company's stock valued at $10,548,000 after buying an additional 21,019 shares in the last quarter. 31.45% of the stock is owned by institutional investors.

Ouster Stock Performance

Shares of OUST stock opened at $45.58 on Friday. Ouster, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $63.79. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -46.99 and a beta of 3.24. The stock's 50-day simple moving average is $42.85 and its 200-day simple moving average is $30.56.

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). The company had revenue of $54.63 million during the quarter, compared to analysts' expectations of $51.47 million. Ouster had a negative net margin of 30.12% and a negative return on equity of 21.49%. As a group, equities analysts forecast that Ouster, Inc. will post -1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OUST shares. Oppenheimer reaffirmed an "outperform" rating and issued a $57.00 price objective (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 research note on Thursday, May 7th. Rosenblatt Securities raised their target price on shares of Ouster from $40.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Roth Capital started coverage on shares of Ouster in a report on Friday, May 29th. They issued a "buy" rating and a $75.00 price target on the stock. Finally, Weiss Ratings began coverage on Ouster in a research report on Friday, May 15th. They set a "sell (d-)" rating on the stock. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.67.

Insider Buying and Selling at Ouster

In other Ouster news, CFO Kenneth P. Gianella sold 54,337 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $38.82, for a total value of $2,109,362.34. Following the completion of the transaction, the chief financial officer owned 301,014 shares of the company's stock, valued at approximately $11,685,363.48. This trade represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Cyrille Jacquemet sold 10,000 shares of Ouster stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $35.00, for a total transaction of $350,000.00. Following the sale, the executive owned 132,590 shares of the company's stock, valued at $4,640,650. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 739,754 shares of company stock worth $28,702,157 in the last three months. 5.72% of the stock is owned by company insiders.

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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