Geode Capital Management LLC Boosts Stake in Ouster, Inc. (NYSE:OUST)

Geode Capital Management LLC increased its position in shares of Ouster, Inc. (NYSE:OUST - Free Report) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,022,274 shares of the company's stock after buying an additional 46,867 shares during the period. Geode Capital Management LLC owned 2.05% of Ouster worth $12,495,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Ouster by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 3,634,680 shares of the company's stock worth $44,416,000 after buying an additional 155,736 shares during the period. New York State Common Retirement Fund grew its holdings in Ouster by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 759,491 shares of the company's stock worth $9,281,000 after buying an additional 155,640 shares in the last quarter. Essex Investment Management Co. LLC raised its position in Ouster by 66.7% in the 4th quarter. Essex Investment Management Co. LLC now owns 275,433 shares of the company's stock valued at $3,366,000 after buying an additional 110,181 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Ouster by 548.6% during the 4th quarter. JPMorgan Chase & Co. now owns 121,934 shares of the company's stock valued at $1,490,000 after acquiring an additional 103,135 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Ouster during the 4th quarter worth $1,118,000. Institutional investors own 31.45% of the company's stock.

Insider Activity

In related news, General Counsel Megan Chung sold 5,800 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $11.24, for a total transaction of $65,192.00. Following the completion of the transaction, the general counsel now directly owns 220,762 shares in the company, valued at $2,481,364.88. The trade was a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 9,099 shares of company stock worth $90,460. 7.81% of the stock is owned by corporate insiders.

Ouster Stock Up 3.4 %

Ouster stock traded up $0.26 during midday trading on Friday, reaching $7.98. The stock had a trading volume of 875,555 shares, compared to its average volume of 1,273,857. The firm has a market capitalization of $397.17 million, a PE ratio of -3.11 and a beta of 2.23. The firm's 50-day moving average price is $8.16 and its 200 day moving average price is $9.23. Ouster, Inc. has a 12 month low of $5.84 and a 12 month high of $16.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Ouster from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 target price on shares of Ouster in a report on Friday, March 21st. Westpark Capital started coverage on Ouster in a report on Monday, March 17th. They set a "hold" rating on the stock. UBS Group set a $16.00 price objective on Ouster in a research note on Thursday, March 27th. Finally, Oppenheimer assumed coverage on Ouster in a research note on Thursday, March 27th. They set an "outperform" rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ouster presently has a consensus rating of "Buy" and an average price target of $14.57.

Ouster Company Profile

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.