Ouster (NYSE:OUST) Shares Up 10.2% Following Insider Buying Activity

Shares of Ouster, Inc. (NYSE:OUST) were up 10.2% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $23.20 and last traded at $22.6460. Approximately 892,864 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,904,242 shares. The stock had previously closed at $20.55.

Specifically, Director Virginia Boulet bought 6,500 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $20.95 per share, for a total transaction of $136,175.00. Following the purchase, the director owned 228,342 shares in the company, valued at $4,783,764.90. This trade represents a 2.93% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Ouster in a report on Tuesday, March 3rd. Oppenheimer reiterated an “outperform” rating and issued a $40.00 target price on shares of Ouster in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.17.

Ouster Trading Up 8.9%

The firm has a market cap of $1.34 billion, a P/E ratio of -8.70 and a beta of 2.91. The business’s 50-day moving average is $22.21 and its two-hundred day moving average is $25.54.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently made changes to their positions in OUST. AQR Capital Management LLC lifted its holdings in shares of Ouster by 610.1% in the 1st quarter. AQR Capital Management LLC now owns 296,311 shares of the company’s stock worth $2,661,000 after purchasing an additional 254,580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ouster by 7.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,344 shares of the company’s stock worth $255,000 after buying an additional 2,037 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Ouster in the second quarter worth $761,000. Geode Capital Management LLC increased its position in Ouster by 8.7% in the second quarter. Geode Capital Management LLC now owns 1,190,545 shares of the company’s stock worth $28,876,000 after buying an additional 95,510 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Ouster by 40.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,242 shares of the company’s stock valued at $297,000 after buying an additional 3,543 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors and hedge funds.

About Ouster

Ouster, Inc is a leading provider of high-resolution digital lidar sensors, software and services designed to enable advanced perception capabilities across a range of industries. Headquartered in San Francisco, California, the company develops modular lidar solutions that capture precise three-dimensional data in real time, supporting applications from autonomous vehicles and robotics to mapping, smart infrastructure and industrial automation.

The company’s core product lineup features multi-beam digital lidar units available in various form factors, including compact models for robotics and drones and larger units for automotive and mapping systems.