Essex Investment Management Co. LLC Increases Stake in Ouster, Inc. (NYSE:OUST)

Essex Investment Management Co. LLC increased its position in Ouster, Inc. (NYSE:OUST) by 66.7% in the 4th quarter, HoldingsChannel reports. The fund owned 275,433 shares of the company’s stock after purchasing an additional 110,181 shares during the period. Essex Investment Management Co. LLC’s holdings in Ouster were worth $3,366,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in OUST. Van ECK Associates Corp increased its holdings in Ouster by 28.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,264 shares of the company’s stock worth $46,000 after acquiring an additional 1,608 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Ouster in the 3rd quarter worth about $706,000. Intech Investment Management LLC purchased a new stake in Ouster in the 3rd quarter worth about $81,000. Charles Schwab Investment Management Inc. increased its holdings in Ouster by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,407 shares of the company’s stock worth $2,245,000 after acquiring an additional 34,743 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Ouster in the 3rd quarter worth about $167,000. Hedge funds and other institutional investors own 31.45% of the company’s stock.

Wall Street Analysts Forecast Growth

OUST has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on Ouster in a report on Thursday, December 12th. They set an “outperform” rating and a $14.00 target price for the company. Cantor Fitzgerald raised Ouster from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $12.00 to $10.00 in a report on Monday, November 11th. Finally, Northland Capmk raised Ouster to a “strong-buy” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $13.17.

Insider Activity

In related news, General Counsel Megan Chung sold 13,671 shares of the business’s 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 sale, the general counsel now owns 149,647 shares in the company, valued at $1,450,079.43. The trade was a 8.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Angus Pacala bought 50,954 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $9.79 per share, with a total value of $498,839.66. Following the transaction, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. The trade was a 7.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 48,500 shares of company stock worth $469,814. 7.81% of the stock is currently owned by insiders.

Ouster Trading Up 1.3 %

Shares of OUST opened at $8.08 on Friday. The company has a market cap of $402.15 million, a PE ratio of -3.14 and a beta of 2.38. The stock has a 50-day moving average price of $10.35 and a 200-day moving average price of $8.88. Ouster, Inc. has a 12-month low of $4.65 and a 12-month high of $16.88.

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.