Ouster (NYSE:OUST) Trading 9.6% Higher - Still a Buy?

Key Points

• Ouster's stock price increased by 9.6%, closing at $34.04, after trading at a high of $33.45 earlier in the day.
• Analysts have generally rated Ouster positively, with one analyst giving it a Strong Buy rating and an average price target of $15.95.
• Recent insider transactions revealed that CEO Charles Pacala sold nearly 38,000 shares at an average price of $28.46, indicating a 3.63% decrease in his ownership of the stock.

Ouster, Inc. (NYSE:OUST - Get Free Report) traded up 9.6% on Tuesday . The stock traded as high as $33.45 and last traded at $34.04. 1,530,940 shares were traded during trading, a decline of 33% from the average session volume of 2,268,999 shares. The stock had previously closed at $31.07.

Analyst Ratings Changes

Separately, Westpark Capital upgraded Ouster from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $15.95.

Ouster Stock Up 16.0%

The company has a fifty day moving average price of $29.61 and a 200-day moving average price of $20.43. The stock has a market capitalization of $2.08 billion, a P/E ratio of -14.01 and a beta of 2.72.

Insider Buying and Selling

In related news, CEO Charles Angus Pacala sold 37,992 shares of Ouster stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $1,081,252.32. Following the completion of the transaction, the chief executive officer owned 1,009,927 shares in the company, valued at approximately $28,742,522.42. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Megan Chung sold 17,183 shares of Ouster stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $28.46, for a total value of $489,028.18. Following the completion of the transaction, the general counsel owned 203,036 shares of the company's stock, valued at approximately $5,778,404.56. This represents a 7.80% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,778 shares of company stock worth $2,811,222. Insiders own 6.63% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Corient Private Wealth LLC boosted its position in shares of Ouster by 5.5% during the second quarter. Corient Private Wealth LLC now owns 11,554 shares of the company's stock valued at $280,000 after buying an additional 599 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Ouster by 153.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,211 shares of the company's stock valued at $29,000 after buying an additional 733 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Ouster by 22.4% during the second quarter. Ameritas Investment Partners Inc. now owns 5,189 shares of the company's stock valued at $126,000 after buying an additional 950 shares during the period. NewEdge Advisors LLC boosted its position in shares of Ouster by 2,532.6% during the second quarter. NewEdge Advisors LLC now owns 1,132 shares of the company's stock valued at $27,000 after buying an additional 1,089 shares during the period. Finally, 180 Wealth Advisors LLC boosted its position in shares of Ouster by 2.8% during the second quarter. 180 Wealth Advisors LLC now owns 41,014 shares of the company's stock valued at $995,000 after buying an additional 1,128 shares during the period. Hedge funds and other institutional investors own 31.45% of the company's stock.

About Ouster

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.

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