Ouster (NYSE:OUST) Shares Gap Up on Insider Buying Activity

Shares of Ouster, Inc. (NYSE:OUST) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $9.38, but opened at $9.97. Ouster shares last traded at $10.50, with a volume of 1,512,519 shares trading hands.

Specifically, CEO Charles Angus Pacala acquired 50,954 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the completion of the transaction, the chief executive officer now directly owns 769,957 shares in the company, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mark Frichtl bought 5,045 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $9.78 per share, for a total transaction of $49,340.10. Following the completion of the transaction, the chief technology officer now directly owns 513,121 shares of the company’s stock, valued at $5,018,323.38. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of research firms have issued reports on OUST. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Cantor Fitzgerald upgraded shares of Ouster from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $12.00 to $10.00 in a research report on Monday, November 11th. Finally, Northland Securities began coverage on shares of Ouster in a report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $13.17.

Ouster Stock Up 17.1 %

The company’s 50 day simple moving average is $8.52 and its 200-day simple moving average is $9.17. The firm has a market cap of $546.73 million, a P/E ratio of -4.27 and a beta of 2.50.

Hedge Funds Weigh In On Ouster

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Ouster by 2.4% during the third quarter. State Street Corp now owns 1,649,540 shares of the company’s stock valued at $10,392,000 after purchasing an additional 37,926 shares during the period. Geode Capital Management LLC grew its stake in Ouster by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock worth $6,146,000 after acquiring an additional 62,202 shares in the last quarter. Marshall Wace LLP increased its position in shares of Ouster by 184.9% during the second quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after acquiring an additional 424,178 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ouster by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after acquiring an additional 34,743 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Ouster in the second quarter valued at approximately $1,305,000. Institutional investors own 31.45% of the company’s stock.

Ouster Company Profile

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.