Ouster (NASDAQ:OUST) CTO Mark Frichtl Sells 18,778 Shares

Key Points

• Ouster CTO Mark Frichtl sold 18,778 shares at an average price of $33.96, generating approximately $637,701. He retained 318,987 shares after reducing his position by 5.56%.
• Ouster shares rose 3.7% to $33.99, but the company recently reported a quarterly loss of $0.26 per share, missing analyst expectations, despite revenue exceeding forecasts.
• Analyst sentiment remains moderately bullish, with six Buy ratings, two Holds and one Sell; the average price target is $54.67 versus the recent share price.

Ouster, Inc. (NASDAQ:OUST - Get Free Report) CTO Mark Frichtl sold 18,778 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $33.96, for a total value of $637,700.88. Following the sale, the chief technology officer directly owned 318,987 shares in the company, valued at $10,832,798.52. This trade represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ouster Trading Up 3.7%

OUST stock traded up $1.20 during trading on Wednesday, hitting $33.99. 1,803,183 shares of the company's stock were exchanged, compared to its average volume of 3,149,709. The business has a 50-day moving average price of $38.94 and a two-hundred day moving average price of $34.01. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -39.52 and a beta of 3.25. 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) 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 26.02% and a negative return on equity of 17.49%. On average, equities research analysts anticipate that Ouster, Inc. will post -1.07 earnings per share for the current fiscal year.

Institutional Trading of Ouster

Institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Ouster in the 2nd quarter valued at approximately $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 valued at $74,000 after purchasing an additional 342 shares during the period. MCF Advisors LLC raised its stake in shares of Ouster by 34.4% during the second quarter. MCF Advisors LLC now owns 1,344 shares of the company's stock worth $84,000 after purchasing an additional 344 shares during the last quarter. Orion Capital Management LLC raised its stake in shares of Ouster by 195.7% during the second quarter. Orion Capital Management LLC now owns 1,511 shares of the company's stock worth $94,000 after purchasing an additional 1,000 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Ouster by 780.7% during the second quarter. IFP Advisors Inc now owns 1,647 shares of the company's stock worth $103,000 after purchasing an additional 1,460 shares during the period. Hedge funds and other institutional investors own 31.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OUST. Northland Securities set a $60.00 price target on shares of Ouster and gave the company an "outperform" rating in a research report on Tuesday, July 21st. Roth Capital began coverage on Ouster in a research report on Friday, May 29th. They set a "buy" rating and a $75.00 target price on the stock. Oppenheimer reissued an "outperform" rating and issued a $57.00 target price (up from $42.00) on shares of Ouster in a report on Wednesday, July 15th. Citigroup reissued an "outperform" rating on shares of Ouster in a research report on Tuesday, July 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Ouster in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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