In a recent transaction filed with the Securities and Exchange Commission, Mark Frichtl, Chief Technology Officer of Ouster, Inc. (NYSE:OUST), reported the acquisition of common stock valued at $49,326. Frichtl purchased a total of 5,045 shares on December 12, 2024, with prices ranging between $9.775 and $9.7776 per share. The purchase comes as Ouster's stock has shown strong momentum, with a 22% gain year-to-date and currently trading at $9.38.
Following these transactions, Frichtl's direct ownership in Ouster now totals 513,121 shares. The purchases were conducted in multiple transactions, and the prices reflect a weighted average. The filing also notes that Frichtl acquired 3,000 shares in November 2024 through the company's Amended and Restated 2022 Employee Stock Purchase Plan. According to InvestingPro, analysts maintain a Strong Buy consensus on Ouster with price targets ranging from $10 to $17, suggesting potential upside from current levels. Get access to 8 additional key ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Ouster Inc (NYSE:OUST). has reported significant developments, including a record revenue of $28 million in the third quarter of 2024, marking the company's seventh consecutive quarter of meeting or exceeding its financial guidance. This achievement was underscored by the largest purchase order in the company's history for REV7 sensors and the growing popularity of its BlueCity traffic management solution. The company also anticipates revenue for the fourth quarter to be between $29 million and $31 million, with a focus on increasing software sales and expanding its installed base.
On the analyst front, Northland initiated coverage on Ouster shares with an Outperform rating following a significant merger and operational improvements within the company. Meanwhile, Cantor Fitzgerald upgraded the stock from Neutral to Overweight, although the firm lowered its price target to $10.00, reflecting a more conservative outlook on the company's near-term revenue.
In boardroom news, Ouster announced the resignation of director Riaz Valani, leading to a reduction in the size of its Board of Directors from eight to seven members. Despite this change, the company maintains a strong financial position with more cash than debt. These are the recent developments for Ouster Inc., a company navigating the competitive landscape of the industrial machinery sector.
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