Ooma, Inc. (NYSE:OOMA) CEO Sells $123,807.80 in Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric B. Stang sold 5,890 shares of the business’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $21.02, for a total transaction of $123,807.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE OOMA traded up $1.58 during midday trading on Thursday, hitting $22.67. The company’s stock had a trading volume of 884,574 shares, compared to its average volume of 124,033. The company’s fifty day simple moving average is $17.07. Ooma, Inc. has a one year low of $12.36 and a one year high of $23.33. The stock has a market cap of $526.19 million, a price-to-earnings ratio of -186.08 and a beta of 0.41.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, May 25th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Ooma had a negative net margin of 1.44% and a negative return on equity of 3.19%. Research analysts forecast that Ooma, Inc. will post -0.27 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. B. Riley boosted their target price on shares of Ooma from $23.50 to $24.00 and gave the company a “buy” rating in a research note on Thursday, May 27th. Zacks Investment Research raised shares of Ooma from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, June 3rd. Four equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $22.80.

A number of institutional investors have recently bought and sold shares of OOMA. Marshall Wace North America L.P. bought a new stake in Ooma during the 1st quarter worth approximately $28,000. Citigroup Inc. increased its holdings in shares of Ooma by 312.5% in the 4th quarter. Citigroup Inc. now owns 4,117 shares of the technology company’s stock worth $59,000 after buying an additional 3,119 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Ooma by 13.8% in the 1st quarter. Panagora Asset Management Inc. now owns 5,316 shares of the technology company’s stock worth $84,000 after buying an additional 645 shares during the last quarter. UBS Group AG increased its holdings in shares of Ooma by 77.0% in the 1st quarter. UBS Group AG now owns 5,331 shares of the technology company’s stock worth $84,000 after buying an additional 2,319 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Ooma by 26.9% in the 1st quarter. Royal Bank of Canada now owns 8,580 shares of the technology company’s stock worth $136,000 after buying an additional 1,821 shares during the last quarter. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Ooma Company Profile

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.

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