JPMorgan Chase & Co. Sells 15,003 Shares of Ouster, Inc. (NYSE:OUST)

JPMorgan Chase & Co. cut its holdings in shares of Ouster, Inc. (NYSE:OUST) by 44.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,799 shares of the company’s stock after selling 15,003 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ouster were worth $118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OUST. Van ECK Associates Corp increased its position in Ouster by 28.4% in the third quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after purchasing an additional 1,608 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Ouster during the 2nd quarter worth about $27,000. Stoneridge Investment Partners LLC bought a new position in Ouster during the third quarter worth about $67,000. True North Advisors LLC bought a new position in Ouster in the 3rd quarter valued at about $78,000. Finally, Intech Investment Management LLC bought a new stake in Ouster during the 3rd quarter worth $81,000. 31.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ouster

In other news, COO Darien Spencer sold 14,869 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $9.69, for a total transaction of $144,080.61. Following the completion of the transaction, the chief operating officer now owns 291,718 shares of the company’s stock, valued at approximately $2,826,747.42. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Angus Pacala bought 50,954 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost 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 of the company’s stock, valued at $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 80,415 shares of company stock valued at $748,620. Insiders own 7.81% of the company’s stock.

Ouster Price Performance

Shares of OUST stock opened at $9.96 on Monday. Ouster, Inc. has a one year low of $4.65 and a one year high of $16.88. The company’s 50-day simple moving average is $10.94 and its two-hundred day simple moving average is $9.27. The company has a market capitalization of $495.71 million, a P/E ratio of -3.88 and a beta of 2.39.

Ouster (NYSE:OUST) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter. Ouster had a negative net margin of 106.50% and a negative return on equity of 65.17%. The company had revenue of $28.08 million for the quarter. During the same period in the prior year, the firm earned ($0.89) EPS. On average, research analysts expect that Ouster, Inc. will post -2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OUST shares. Northland Securities started coverage on Ouster in a research note on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Ouster in a report on Friday, November 8th. Cantor Fitzgerald upgraded shares of 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. Finally, Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ouster has a consensus rating of “Buy” and a consensus 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.