Ouster, Inc.'s (NYSE:OUST) Chief Financial Officer, Mark Weinswig, has sold a portion of his holdings in the company, according to a recent SEC filing. The transaction involved the sale of 7,159 shares of common stock on May 29, 2024, for a total value of $83,873, with individual share prices ranging from $11.5749 to $11.72.
This sale was conducted to cover withholding taxes incurred upon the vesting and settlement of restricted stock awards, as clarified in the footnotes of the filing. The sale was initiated by the issuer on behalf of Weinswig, reflecting a common practice among executives to manage tax obligations related to stock compensation.
Following the sale, Weinswig's ownership in Ouster stands at 232,641 shares of common stock. This includes 3,000 shares acquired on May 15, 2024, under the company's 2022 Employee Stock Purchase Plan. The transaction details, including the weighted average price and the range of prices at which the stock was sold, have been made available, with Weinswig committing to provide full information regarding the number of shares sold at each price within the range upon request.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. While such sales are routine and often planned in advance, they are still closely watched as they represent movements in insider ownership.
InvestingPro Insights
Amid the news of Ouster, Inc.'s (NYSE:OUST) CFO, Mark Weinswig, managing his stock-based compensation tax obligations, investors seeking to understand the broader financial health and market sentiment for Ouster may find the latest data and analysis from InvestingPro invaluable. Notably, Ouster's market capitalization stands at a modest $549.94 million, which, when viewed in conjunction with its revenue growth, offers a glimpse into the company's size and expansion trajectory.
InvestingPro Data reveals impressive revenue growth for Ouster over the last twelve months as of Q1 2024, with an increase of 85.09%. This figure is particularly striking when considering the company's quarterly revenue growth rate of 50.57% for Q1 2024. Such robust growth metrics may align with the InvestingPro Tip that analysts anticipate sales growth in the current year, suggesting a positive outlook for the company's revenue streams.
However, despite strong sales growth, Ouster faces challenges with profitability. The company's gross profit margin stands at 19.0%, and it has not been profitable over the past twelve months, as indicated by a negative P/E ratio of -2.25. The adjusted P/E ratio for the last twelve months as of Q1 2024 further illustrates this challenge at -4.61. This data corroborates the InvestingPro Tip that analysts do not expect the company to be profitable this year.
Investors tracking Ouster's stock performance will note significant returns, with a one-week price total return of 8.26% and a striking three-month price total return of 124.49%. Such figures may reflect the high price volatility that Ouster generally trades with—an aspect highlighted by an InvestingPro Tip. While this can be enticing for certain investors, it also indicates a need for caution due to the potential for large price swings.
For those considering a deeper dive into Ouster's financials and future prospects, there are additional InvestingPro Tips available, with insights such as the company's cash position relative to debt and liquidity status. To explore these further, interested readers can take advantage of a special offer: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, which currently lists 17 tips for Ouster that could guide investment decisions.
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