Fmr LLC Trims Stock Position in Ouster, Inc. (NYSE:OUST)

Fmr LLC decreased its stake in Ouster, Inc. (NYSE:OUST) by 94.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,054 shares of the company’s stock after selling 65,134 shares during the quarter. Fmr LLC’s holdings in Ouster were worth $26,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in Ouster during the third quarter valued at $706,000. Renaissance Technologies LLC acquired a new stake in shares of Ouster during the 2nd quarter valued at about $1,217,000. Bank of New York Mellon Corp purchased a new position in shares of Ouster in the 2nd quarter valued at about $1,305,000. Marshall Wace LLP raised its holdings in Ouster by 184.9% in the 2nd quarter. Marshall Wace LLP now owns 653,530 shares of the company’s stock worth $6,424,000 after purchasing an additional 424,178 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Ouster during the second quarter worth approximately $101,000. 31.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Megan Chung sold 13,671 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.69, for a total value of $132,471.99. Following the completion of the sale, the general counsel now owns 149,647 shares of the company’s stock, valued at approximately $1,450,079.43. This represents a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Mark Frichtl acquired 5,045 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $9.78 per share, with a total value of $49,340.10. Following the completion of the transaction, the chief technology officer now owns 513,121 shares of the company’s stock, valued at $5,018,323.38. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 80,415 shares of company stock worth $748,620. 7.81% of the stock is owned by insiders.

Ouster Stock Up 7.0 %

Ouster stock opened at $13.71 on Friday. The company has a fifty day simple moving average of $9.21 and a 200-day simple moving average of $9.22. The firm has a market capitalization of $682.36 million, a price-to-earnings ratio of -5.33 and a beta of 2.50. Ouster, Inc. has a 52-week low of $4.65 and a 52-week high of $16.88.

Analyst Ratings Changes

OUST has been the subject of several research analyst reports. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $12.00 to $10.00 in a research note on Monday, November 11th. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Northland Securities started coverage on shares of Ouster in a research report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Ouster in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.17.

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.