Ooma (NYSE:OOMA) Director Russell Mann Sells 20,000 Shares of Stock

Ooma, Inc. (NYSE:OOMA) Director Russell Mann sold 20,000 shares of Ooma stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $18.35, for a total transaction of $367,000.00. Following the completion of the sale, the director owned 116,115 shares of the company’s stock, valued at $2,130,710.25. This represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ooma Trading Up 1.7%

NYSE:OOMA opened at $18.38 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $505.53 million, a price-to-earnings ratio of 57.45 and a beta of 1.22. The firm has a fifty day simple moving average of $17.49 and a two-hundred day simple moving average of $14.26. Ooma, Inc. has a 12 month low of $9.79 and a 12 month high of $21.96.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Ooma had a net margin of 3.17% and a return on equity of 20.21%. The firm had revenue of $81.15 million during the quarter, compared to the consensus estimate of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. Analysts expect that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Trading of Ooma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OOMA. Essential Partners LLC raised its stake in shares of Ooma by 8.3% in the first quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock worth $119,000 after purchasing an additional 626 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Ooma by 247.3% during the first quarter. Quantinno Capital Management LP now owns 70,703 shares of the technology company’s stock valued at $1,029,000 after buying an additional 50,347 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Ooma during the first quarter valued at approximately $1,415,000. Renaissance Technologies LLC boosted its position in shares of Ooma by 12.2% during the first quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company’s stock valued at $13,273,000 after buying an additional 99,100 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in Ooma by 63.3% during the first quarter. Walleye Capital LLC now owns 35,662 shares of the technology company’s stock worth $519,000 after buying an additional 13,829 shares in the last quarter. 80.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OOMA has been the topic of several recent research reports. Lake Street Capital increased their price target on Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a report on Monday, May 18th. UBS Group set a $24.00 price target on shares of Ooma in a research report on Wednesday, May 27th. Finally, Benchmark restated a “buy” rating on shares of Ooma in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Ooma Company Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.