Andrew H. Galligan Sells 12,407 Shares of Ooma, Inc. (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA) Director Andrew H. Galligan sold 12,407 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $12.43, for a total transaction of $154,219.01. Following the completion of the sale, the director now owns 241,081 shares in the company, valued at approximately $2,996,636.83. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ooma Trading Down 1.7%

Shares of OOMA opened at $12.36 on Thursday. The business’s 50-day moving average price is $12.80 and its 200 day moving average price is $13.58. The stock has a market capitalization of $341.14 million, a P/E ratio of -65.05 and a beta of 1.22. Ooma, Inc. has a 1-year low of $7.83 and a 1-year high of $17.00.

Hedge Funds Weigh In On Ooma

Institutional investors and hedge funds have recently bought and sold shares of the business. Bard Associates Inc. grew its stake in shares of Ooma by 31.1% in the 4th quarter. Bard Associates Inc. now owns 26,675 shares of the technology company’s stock valued at $375,000 after buying an additional 6,328 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ooma by 40.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company’s stock valued at $3,223,000 after buying an additional 66,009 shares in the last quarter. Globeflex Capital L P grew its stake in shares of Ooma by 473.7% in the 4th quarter. Globeflex Capital L P now owns 77,305 shares of the technology company’s stock valued at $1,087,000 after buying an additional 63,831 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ooma in the 4th quarter worth approximately $92,000. Finally, Sei Investments Co. lifted its holdings in Ooma by 101.0% in the 4th quarter. Sei Investments Co. now owns 36,378 shares of the technology company’s stock worth $511,000 after purchasing an additional 18,275 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Benchmark lifted their price target on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Lake Street Capital dropped their price target on Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.63.

Ooma Company Profile

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.