Insider Selling: Ouster (NASDAQ:OUST) CFO Sells $532,696.56 in Stock

Key Points

• Ouster CFO Kenneth Gianella sold 15,686 shares at an average price of $33.96, generating $532,696.56. After the transaction, he retained 245,328 shares, a 6.01% reduction in his position.
• Ouster shares recently traded at $33.99, well below their 52-week high of $63.79. The company reported a quarterly EPS loss of $0.26, missing estimates, although revenue of $54.63 million exceeded expectations.
• Wall Street’s consensus rating remains “Moderate Buy”, with an average price target of $54.67; six analysts rate the stock Buy, two Hold, and one Sell. Institutional investors own 31.45% of Ouster’s shares.

Ouster, Inc. (NASDAQ:OUST - Get Free Report) CFO Kenneth Gianella sold 15,686 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $33.96, for a total transaction of $532,696.56. Following the completion of the sale, the chief financial officer owned 245,328 shares in the company, valued at $8,331,338.88. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ouster Price Performance

Shares of OUST traded up $1.20 during trading hours on Wednesday, hitting $33.99. The stock had a trading volume of 1,803,183 shares, compared to its average volume of 3,149,709. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -39.52 and a beta of 3.25. The company's fifty day moving average is $38.94 and its two-hundred day moving average is $34.01. Ouster, Inc. has a 52 week low of $16.40 and a 52 week high of $63.79.

Ouster (NASDAQ:OUST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) 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 net margin of 26.02% and a negative return on equity of 17.49%. Equities analysts predict that Ouster, Inc. will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Ouster in the 1st quarter valued at about $8,915,000. Handelsbanken Fonder AB grew its position in shares of Ouster by 130.7% during the 4th quarter. Handelsbanken Fonder AB now owns 715,646 shares of the company's stock worth $15,479,000 after buying an additional 405,441 shares during the period. Baird Financial Group Inc. bought a new stake in shares of Ouster during the second quarter worth approximately $25,218,000. Bastion Asset Management Inc. bought a new stake in shares of Ouster during the first quarter worth approximately $5,271,000. Finally, Wellington Management Group LLP acquired a new position in Ouster in the second quarter valued at approximately $15,384,000. Institutional investors and hedge funds own 31.45% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup reissued an "outperform" rating on shares of Ouster in a report on Tuesday, July 21st. Oppenheimer reiterated 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Roth Capital initiated coverage on Ouster in a report on Friday, May 29th. They set a "buy" rating and a $75.00 target price on the stock. Finally, Rosenblatt Securities restated a "buy" rating and issued a $53.00 target price on shares of Ouster in a research note on Thursday, August 27th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.67.

About Ouster

Ouster, Inc develops lidar sensors and software used to help machines perceive and understand their surroundings. Its digital lidar technology measures distance and generates three-dimensional data for applications including industrial automation, robotics, intelligent transportation, infrastructure monitoring and automotive systems.

The company offers a portfolio of lidar sensors designed for different range, resolution and deployment requirements, along with software and perception tools that help customers interpret sensor data.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.