Ouster (NASDAQ:OUST) COO Sells $434,959.68 in Stock

Key Points

• COO Darien Spencer sold 12,808 Ouster shares at an average price of $33.96, totaling approximately $434,960. He retained 286,998 shares after the transaction.
• Ouster shares rose 3.7% to $33.99, but the company reported a quarterly loss of $0.26 per share, missing analyst estimates, despite revenue exceeding expectations.
• Analyst sentiment remains generally positive, with six Buy ratings and an average price target of $54.67; institutional investors own 31.45% of Ouster’s stock.

Ouster, Inc. (NASDAQ:OUST - Get Free Report) COO Darien Spencer sold 12,808 shares of Ouster stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $33.96, for a total transaction of $434,959.68. Following the completion of the transaction, the chief operating officer directly owned 286,998 shares in the company, valued at $9,746,452.08. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Darien Spencer also recently made the following trade(s):

• On Tuesday, August 4th, Darien Spencer sold 30,000 shares of Ouster stock. The stock was sold at an average price of $45.00, for a total transaction of $1,350,000.00.

Ouster Stock Up 3.7%

Ouster stock traded up $1.20 during mid-day trading on Wednesday, hitting $33.99. The company's stock had a trading volume of 1,803,183 shares, compared to its average volume of 1,946,057. The stock has a market capitalization of $2.45 billion, a P/E ratio of -39.52 and a beta of 3.25. Ouster, Inc. has a twelve month low of $16.40 and a twelve month high of $63.79. The stock's fifty day moving average price is $38.76 and its two-hundred day moving average price is $34.11.

Ouster (NASDAQ:OUST - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.14). The company had revenue of $54.63 million for the quarter, compared to the consensus estimate of $51.47 million. Ouster had a negative return on equity of 17.49% and a negative net margin of 26.02%. Equities analysts expect that Ouster, Inc. will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Ouster

A number of institutional investors have recently modified their holdings of OUST. Integrated Wealth Concepts LLC purchased a new position in shares of Ouster during the 2nd quarter valued at $74,000. Allworth Financial LP boosted its position in Ouster by 40.3% during the second quarter. Allworth Financial LP now owns 1,190 shares of the company's stock valued at $74,000 after purchasing an additional 342 shares during the last quarter. MCF Advisors LLC boosted its position in Ouster by 34.4% during the second quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock valued at $84,000 after purchasing an additional 344 shares during the last quarter. Orion Capital Management LLC grew its stake in Ouster by 195.7% in the second quarter. Orion Capital Management LLC now owns 1,511 shares of the company's stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Ouster by 780.7% in the second quarter. IFP Advisors Inc now owns 1,647 shares of the company's stock valued at $103,000 after purchasing an additional 1,460 shares in the last quarter. Institutional investors and hedge funds own 31.45% of the company's stock.

Analyst Upgrades and Downgrades

OUST has been the subject of several research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $53.00 price target on shares of Ouster in a research report on Thursday, August 27th. Citigroup reiterated an "outperform" rating on shares of Ouster in a report on Tuesday, July 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Roth Capital began coverage on Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 price objective for the company. Finally, Northland Securities set a $60.00 target price on Ouster and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Six 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. Based on data from MarketBeat, Ouster presently has an average rating of "Moderate Buy" and an average price target of $54.67.

Ouster Company Profile

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.