OMERS Administration Corp has acquired a stake in Ouster, Inc. (NYSE: OUST), investing approximately $594,000 to purchase 24,500 shares during the second quarter of 2023. This investment was disclosed in the fund’s latest Form 13F filing with the Securities and Exchange Commission. The move highlights growing institutional interest in Ouster, a company specializing in lidar sensors for various industries, including automotive and robotics.
Several other institutional investors have also recently adjusted their positions in Ouster. Notably, Panagora Asset Management Inc. increased its stake by 246.4%, now holding 44,002 shares valued at approximately $1,067,000 after acquiring an additional 31,300 shares. Similarly, Ameritas Investment Partners Inc. raised its holdings by 22.4%, owning now 5,189 shares worth $126,000 following a purchase of 950 shares.
Prudential Financial Inc. entered a new position in Ouster during the same quarter, valuing its investment at $892,000. American Century Companies Inc. also grew its holdings by 22.0%, now owning 63,298 shares valued at $1,535,000 after acquiring an additional 11,416 shares. Rhumbline Advisers increased its position by 10.2%, holding 89,768 shares worth $2,177,000 after purchasing an extra 8,293 shares. Collectively, hedge funds and institutional investors now own 31.45% of Ouster’s stock.
Insider Transactions Impact Ownership
Recent insider trading at Ouster also indicates significant movements. On September 12, 2023, Chief Technology Officer Mark Frichtl sold 25,329 shares at an average price of $28.46, totaling approximately $720,863. Post-transaction, Frichtl holds 665,403 shares, valued at around $18,937,369, reflecting a 3.67% decrease in his ownership.
CEO Charles Angus Pacala also sold 37,992 shares on the same day, generating a total of $1,081,252. After this sale, Pacala retains 1,009,927 shares, valued at $28,742,522, indicating a 3.63% decrease in ownership. In total, insiders sold 106,310 shares over the past three months, representing approximately $3,035,305 in transactions. Currently, insiders own 6.63% of Ouster’s stock.
Stock Performance and Market Outlook
Ouster shares opened at $23.87 on Thursday, reflecting an increase of 8.4%. The stock’s performance shows a 50-day moving average of $27.66 and a 200-day moving average of $25.32. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -9.29, and a beta of 2.99. Over the past year, Ouster’s stock has fluctuated between a low of $6.34 and a high of $41.65.
Ouster, Inc. is recognized for providing advanced lidar sensors used across various sectors, including automotive, industrial, robotics, and smart infrastructure, with a presence in the Americas, Asia-Pacific, Europe, the Middle East, and Africa. The company’s product offerings include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.
As institutional interest in Ouster continues to grow, market analysts are keenly observing developments and potential impacts on the company’s future performance.
