State Street Corp Increases Stock Holdings in Ouster, Inc. (NYSE:OUST)

State Street Corp grew its stake in shares of Ouster, Inc. (NYSE:OUST) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,649,540 shares of the company’s stock after acquiring an additional 37,926 shares during the period. State Street Corp’s holdings in Ouster were worth $10,392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stifel Financial Corp raised its holdings 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 purchasing an additional 44,275 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Ouster during the 3rd quarter valued at approximately $167,000. Charles Schwab Investment Management Inc. grew its position in shares of Ouster by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock valued at $2,245,000 after purchasing an additional 34,743 shares during the period. Intech Investment Management LLC purchased a new position in shares of Ouster in the third quarter worth about $81,000. Finally, GSA Capital Partners LLP acquired a new position in Ouster in the 3rd quarter valued at about $706,000. 31.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Mark Weinswig sold 31,397 shares of Ouster stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $8.72, for a total value of $273,781.84. Following the completion of the sale, the chief financial officer now owns 198,650 shares of the company’s stock, valued at approximately $1,732,228. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Darien Spencer sold 14,869 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 $144,080.61. Following the completion of the sale, the chief operating officer now directly owns 291,718 shares in the company, valued at $2,826,747.42. This trade represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,415 shares of company stock valued at $748,620. Company insiders own 7.81% of the company’s stock.

Ouster Stock Performance

OUST opened at $13.71 on Friday. The company has a market capitalization of $682.36 million, a P/E ratio of -5.33 and a beta of 2.50. The company has a 50-day moving average of $9.21 and a 200-day moving average of $9.22. Ouster, Inc. has a 1-year low of $4.65 and a 1-year high of $16.88.

Wall Street Analysts Forecast Growth

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

About Ouster

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.