Fmr LLC Sells 65,134 Shares of Ouster, Inc. (NYSE:OUST)

FMR LLC trimmed its stake in Ouster, Inc. (NYSE:OUST - Free Report) by 94.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,054 shares of the company's stock after selling 65,134 shares during the period. FMR LLC's holdings in Ouster were worth $26,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Ouster Stock Performance

Ouster stock traded down $1.22 during mid-day trading on Friday, reaching $12.49. The company's stock had a trading volume of 2,040,743 shares, compared to its average volume of 1,211,250. Ouster, Inc. has a 12 month low of $4.65 and a 12 month high of $16.88. The business's 50 day simple moving average is $9.30 and its 200 day simple moving average is $9.23. The company has a market capitalization of $621.64 million, a price-to-earnings ratio of -4.86 and a beta of 2.50.

Insider Transactions at Ouster

In other Ouster news, CTO Mark Frichtl purchased 5,045 shares of the stock in a transaction 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 directly owns 513,121 shares in the company, valued at $5,018,323.38. This represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Megan Chung sold 13,671 shares of the firm's stock in a transaction that occurred on 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 directly owns 149,647 shares of the company's stock, valued at approximately $1,450,079.43. The trade was a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,415 shares of company stock worth $748,620 in the last 90 days. Corporate 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.