Ouster (NYSE:OUST) CTO Sells $637,219.37 in Stock

Key Points

• Ouster CTO Mark Frichtl sold 21,149 shares on May 4 for $637,219.37, part of a recent insider selling spree that totals roughly $6.0 million across multiple transactions since March.
• After the May 4 sale Frichtl still owns 712,297 shares (about $21.46 million), and the transaction reduced his position by 2.88%.
• Ouster shares rose about 2.8% to $29.40 on heavy volume, while analysts hold a "Moderate Buy" consensus with an average target near $40.20.

Ouster, Inc. (NYSE:OUST - Get Free Report) CTO Mark Frichtl sold 21,149 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.13, for a total value of $637,219.37. Following the sale, the chief technology officer owned 712,297 shares of the company's stock, valued at approximately $21,461,508.61. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mark Frichtl also recently made the following trade(s):

• On Tuesday, May 5th, Mark Frichtl sold 13,451 shares of Ouster stock. The stock was sold at an average price of $30.00, for a total value of $403,530.00.
• On Wednesday, April 22nd, Mark Frichtl sold 400 shares of Ouster stock. The stock was sold at an average price of $30.00, for a total value of $12,000.00.
• On Monday, April 20th, Mark Frichtl sold 60,000 shares of Ouster stock. The stock was sold at an average price of $26.58, for a total value of $1,594,800.00.
• On Friday, April 17th, Mark Frichtl sold 30,000 shares of Ouster stock. The stock was sold at an average price of $25.15, for a total value of $754,500.00.
• On Wednesday, April 15th, Mark Frichtl sold 20,000 shares of Ouster stock. The stock was sold at an average price of $24.00, for a total value of $480,000.00.
• On Tuesday, April 14th, Mark Frichtl sold 40,000 shares of Ouster stock. The stock was sold at an average price of $22.76, for a total value of $910,400.00.
• On Wednesday, March 25th, Mark Frichtl sold 40,000 shares of Ouster stock. The stock was sold at an average price of $20.94, for a total value of $837,600.00.
• On Thursday, March 12th, Mark Frichtl sold 15,689 shares of Ouster stock. The stock was sold at an average price of $23.43, for a total value of $367,593.27.

Ouster Stock Up 2.8%

Shares of Ouster stock traded up $0.80 during trading on Wednesday, reaching $29.40. 6,032,228 shares of the company were exchanged, compared to its average volume of 2,077,959. Ouster, Inc. has a twelve month low of $8.08 and a twelve month high of $41.65. The business has a 50-day moving average price of $21.95 and a 200-day moving average price of $23.48. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.44 and a beta of 3.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OUST shares. Oppenheimer reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Ouster in a research note on Tuesday, March 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 target price on shares of Ouster in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bastion Asset Management Inc. acquired a new position in Ouster in the first quarter valued at about $5,271,000. Hillsdale Investment Management Inc. grew its stake in Ouster by 6.4% in the first quarter. Hillsdale Investment Management Inc. now owns 118,720 shares of the company's stock valued at $2,181,000 after acquiring an additional 7,100 shares during the period. 180 Wealth Advisors LLC grew its stake in Ouster by 20.3% in the first quarter. 180 Wealth Advisors LLC now owns 59,074 shares of the company's stock valued at $1,085,000 after acquiring an additional 9,952 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Ouster in the first quarter valued at about $704,000. Finally, Leonteq Securities AG boosted its position in shares of Ouster by 45.6% during the first quarter. Leonteq Securities AG now owns 8,136 shares of the company's stock worth $149,000 after buying an additional 2,549 shares during the period. 31.45% of the stock is owned by institutional investors and hedge funds.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company's core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.

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.