Creative Planning has increased its investment in Ouster, Inc. (NYSE: OUST) by 13.6% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm now holds 43,004 shares of Ouster, which are valued at approximately $1,043,000 as of the end of the reporting period. This move reflects a growing confidence in the lidar technology company, which provides essential sensors for various industries.
Several other institutional investors have also adjusted their positions in Ouster. Nisa Investment Advisors LLC has significantly increased its stake by 153.3%, now owning 1,211 shares valued at about $29,000 after acquiring an additional 733 shares. Similarly, Game Plan Financial Advisors LLC expanded its holdings by 400.0%, bringing its total to 3,000 shares worth $73,000 following a purchase of 2,400 shares during the same period.
North Capital Inc. increased its position by 102.7%, also owning 3,000 shares valued at $73,000 after adding 1,520 shares. Additionally, Quaker Wealth Management LLC entered a new position in Ouster with an investment of approximately $79,000. The trend indicates that hedge funds and institutional investors collectively hold about 31.45% of Ouster’s shares.
Stock Performance and Insider Activity
As of Monday, Ouster’s stock opened at $23.05. Over the past year, the stock has fluctuated between a low of $6.34 and a high of $41.65. The company’s market capitalization stands at $1.38 billion, with a price-to-earnings (P/E) ratio of -8.97 and a beta of 2.74, indicating higher volatility compared to the broader market. The stock has a 50-day simple moving average of $28.26 and a 200-day simple moving average of $25.18.
In related news, Director Ted L. Tewksbury III sold 1,695 shares of Ouster on November 11, 2023, at an average price of $25.38, amounting to a total transaction value of $43,019.10. Following this sale, Tewksbury’s ownership decreased by 1.33%, leaving him with 125,359 shares valued at approximately $3,181,611.42.
On October 17, 2023, General Counsel Megan Chung sold 5,837 shares at an average price of $31.02, resulting in a transaction valued at $181,063.74. After this sale, Chung owned 197,199 shares worth about $6,117,112.98, reflecting a 2.87% decrease in her ownership.
Over the past three months, insiders have sold a total of 106,310 shares valued at approximately $3,035,305. Company insiders currently hold about 6.63% of Ouster’s stock.
Company Overview
Ouster, Inc. specializes in providing lidar sensors for a variety of sectors, including automotive, industrial, robotics, and smart infrastructure. The company’s products range from high-resolution scanning and solid-state digital lidar sensors to analog lidar sensors and software solutions. With operations spanning the Americas, Asia-Pacific, Europe, the Middle East, and Africa, Ouster is positioned to play a pivotal role in the expanding lidar market.
As interest from institutional investors continues to grow, Ouster appears well-positioned for future developments in the lidar technology space. For those following the company’s progress, recent filings and insider trades are available for review through the Securities and Exchange Commission.
