Insider Selling: Ouster (NASDAQ:OUST) Director Sells $170,000.00 in Stock

Key Points

• Ouster director Stephen Skaggs sold 5,000 shares for $170,000 at an average price of $34. After the sale, he directly owned 56,415 shares, an 8.14% reduction in his holdings.
• Ouster reported quarterly EPS of -$0.20, missing the consensus estimate of -$0.08, while revenue of $59.33 million exceeded expectations of $56.30 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $58; the stock was reported trading at $38.22.

Ouster, Inc. (NASDAQ:OUST - Get Free Report) Director Stephen Skaggs sold 5,000 shares of the company's stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. Following the sale, the director directly owned 56,415 shares in the company, valued at $1,918,110. This represents a 8.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Ouster Stock Down 0.9%

OUST stock traded down $0.35 during midday trading on Tuesday, reaching $38.22. 2,632,953 shares of the company's stock traded hands, compared to its average volume of 3,087,473. The company has a 50-day simple moving average of $35.44 and a two-hundred day simple moving average of $32.60. Ouster, Inc. has a 1-year low of $16.40 and a 1-year high of $63.79. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -55.39 and a beta of 3.47.

Ouster (NASDAQ:OUST - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Ouster had a negative return on equity of 11.70% and a negative net margin of 20.36%. The business had revenue of $59.33 million for the quarter, compared to the consensus estimate of $56.30 million. Equities research analysts forecast that Ouster, Inc. will post -0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Northland Securities set a $60.00 price objective on shares of Ouster and gave the company an "outperform" rating in a research report on Tuesday, July 21st. Rosenblatt Securities reissued a "buy" rating and set a $53.00 price target on shares of Ouster in a research note on Wednesday, November 4th. Oppenheimer reissued an "outperform" rating on shares of Ouster in a research note on Wednesday, November 4th. Cantor Fitzgerald raised shares of Ouster from a "neutral" rating to an "overweight" rating and set a $45.00 price target for the company in a report on Wednesday, November 4th. Finally, Citigroup restated an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Hedge Funds Weigh In On Ouster

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in Ouster by 66.2% during the third quarter. Parallel Advisors LLC now owns 866 shares of the company's stock worth $35,000 after acquiring an additional 345 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Ouster by 83.4% in the third quarter. Farther Finance Advisors LLC now owns 895 shares of the company's stock valued at $36,000 after acquiring an additional 407 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Ouster in the second quarter worth about $74,000. Allworth Financial LP increased its holdings in shares of Ouster by 40.3% in the second quarter. Allworth Financial LP now owns 1,190 shares of the company's stock worth $74,000 after acquiring an additional 342 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in shares of Ouster by 34.4% in the second quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock worth $84,000 after acquiring an additional 344 shares in the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Ouster Company Profile

Ouster, Inc. develops lidar sensors and software that help machines and infrastructure detect and interpret their surroundings. Its digital lidar products use laser-based sensing to create 3D representations of nearby objects and environments. The company serves customers in areas including industrial automation, robotics, smart infrastructure and automotive applications. Its offerings include lidar sensors and perception software designed to support tasks such as object detection, mapping and navigation.

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