Van ECK Associates Corp Cuts Stake in Ouster, Inc. (NYSE:OUST)

Van ECK Associates Corp cut its stake in Ouster, Inc. (NYSE:OUST) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,546 shares of the company’s stock after selling 1,718 shares during the quarter. Van ECK Associates Corp’s holdings in Ouster were worth $68,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Ouster by 280.6% in the third quarter. Barclays PLC now owns 57,330 shares of the company’s stock valued at $361,000 after purchasing an additional 42,267 shares during the period. Geode Capital Management LLC increased its position in shares of Ouster by 6.8% during the third 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 during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Ouster during the third quarter worth about $706,000. Stifel Financial Corp increased its position in shares of Ouster by 286.7% during the third quarter. Stifel Financial Corp now owns 59,718 shares of the company’s stock worth $376,000 after acquiring an additional 44,275 shares during the last quarter. Finally, State Street Corp increased its position 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 worth $10,392,000 after acquiring an additional 37,926 shares during the last quarter. 31.45% of the stock is owned by hedge funds and other institutional investors.

Ouster Stock Performance

NYSE:OUST opened at $8.87 on Monday. The stock has a 50-day simple moving average of $11.08 and a 200 day simple moving average of $8.95. Ouster, Inc. has a one year low of $4.65 and a one year high of $16.88. The company has a market capitalization of $441.46 million, a price-to-earnings ratio of -3.45 and a beta of 2.36.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ouster

In other Ouster news, General Counsel Megan Chung sold 13,671 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $132,471.99. Following the completion of the transaction, the general counsel now directly owns 149,647 shares in the company, valued at $1,450,079.43. The trade was a 8.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Angus Pacala acquired 50,954 shares of Ouster stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $9.79 per share, with a total value of $498,839.66. Following the completion of the transaction, the chief executive officer now owns 769,957 shares of the company’s stock, valued at approximately $7,537,879.03. This trade represents a 7.09 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 49,018 shares of company stock worth $474,838 over the last ninety days. Company insiders own 7.81% of the company’s stock.

Ouster 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.