OMERS Administration Corp has made a significant investment in Ouster, Inc. (NYSE: OUST), acquiring 24,500 shares valued at approximately $594,000. This move was disclosed in the fund’s recent Form 13F filing with the Securities and Exchange Commission (SEC). The investment aligns with a growing trend among institutional investors increasing their stakes in Ouster during the second quarter of 2023.
Institutional Investments Surge
In addition to OMERS’ acquisition, several other institutional investors have recently adjusted their holdings in Ouster. Panagora Asset Management Inc. enhanced its position by 246.4%, acquiring 31,300 additional shares to reach a total of 44,002 shares valued at over $1.06 million. Similarly, Ameritas Investment Partners Inc. increased its holdings by 22.4%, owning 5,189 shares now worth around $126,000.
Furthermore, Prudential Financial Inc. entered a new position in Ouster during the same period, investing $892,000, while American Century Companies Inc. grew its stake by 22.0%, holding 63,298 shares valued at approximately $1.54 million. Rhumbline Advisers also increased its position by 10.2% during the quarter, now owning 89,768 shares valued at $2.18 million.
Insider Transactions and Market Performance
Recent insider trading at Ouster has drawn attention as well. On September 12, 2023, Chief Technology Officer Mark Frichtl sold 25,329 shares at an average price of $28.46, totaling approximately $720,863. Following this transaction, Frichtl owns 665,403 shares valued at around $18.94 million, marking a 3.67% decrease in his ownership.
Chief Executive Officer Charles Angus Pacala also sold shares on the same day, divesting 37,992 shares for approximately $1.08 million. After the sale, Pacala holds 1,009,927 shares valued at $28.74 million, reflecting a 3.63% decrease in his holdings. Over the last three months, company insiders have sold a total of 106,310 shares, valued at $3.04 million. Currently, insiders own 6.63% of Ouster’s stock.
As of the latest trading session on Thursday, Ouster shares opened at $23.87. The stock has experienced a 50-day moving average of $27.66 and a 200-day moving average of $25.32. Ouster has a market capitalization of $1.43 billion and a price-to-earnings ratio of -9.29, with a beta of 2.99. The company’s stock has fluctuated between a 12-month low of $6.34 and a high of $41.65.
Ouster, Inc. specializes in providing lidar sensors across various sectors, including automotive, industrial, robotics, and smart infrastructure, serving markets in the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Its product range includes high-resolution scanning and solid-state digital lidar sensors, as well as software solutions.
