Ooma, Inc. (NYSE:OOMA) CEO Sells $929,858.00 in Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric B. Stang sold 61,580 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction of $929,858.00. Following the completion of the transaction, the chief executive officer now directly owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ooma Stock Up 2.3 %

Ooma stock traded up $0.35 during trading hours on Tuesday, hitting $15.57. The stock had a trading volume of 260,563 shares, compared to its average volume of 107,075. The stock’s 50-day moving average price is $12.98 and its 200-day moving average price is $10.76. The stock has a market capitalization of $417.28 million, a P/E ratio of -41.13 and a beta of 0.94. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $17.00. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Institutional Trading of Ooma

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock valued at $10,802,000 after purchasing an additional 68,430 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ooma by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock valued at $8,393,000 after buying an additional 33,100 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ooma by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after buying an additional 4,683 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after acquiring an additional 154,117 shares during the period. Finally, State Street Corp increased its position in shares of Ooma by 2.9% during the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after purchasing an additional 13,240 shares during the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OOMA has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, August 28th. Benchmark upped their target price on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. B. Riley increased their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Northland Securities boosted their price objective on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $16.60.

About Ooma

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.