Insider Selling: Ooma (NYSE:OOMA) Director Sells $367,000.00 in Stock

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

Ooma Trading Up 4.8%

Ooma stock opened at $18.38 on Friday. The firm has a market cap of $505.56 million, a PE ratio of 57.45 and a beta of 1.22. Ooma, Inc. has a 12 month low of $9.79 and a 12 month high of $21.96. The stock’s 50 day simple moving average is $17.62 and its two-hundred day simple moving average is $14.33. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

Ooma (NYSE:OOMA) last posted its 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 analyst estimates 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 anticipate that Ooma, Inc. will post 0.8 earnings per share for the current year.

Institutional Trading of Ooma

Several institutional investors have recently modified their holdings of OOMA. IFC & Insurance Marketing Inc. purchased a new stake in shares of Ooma during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC lifted its stake in Ooma by 225.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock valued at $47,000 after buying an additional 2,507 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Ooma by 28.3% in the 1st quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock worth $49,000 after buying an additional 740 shares during the last quarter. CWM LLC boosted its holdings in Ooma by 45.6% in the 4th quarter. CWM LLC now owns 4,400 shares of the technology company’s stock worth $52,000 after buying an additional 1,378 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Ooma by 24.1% during the 4th quarter. Royal Bank of Canada now owns 4,466 shares of the technology company’s stock worth $53,000 after buying an additional 867 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OOMA. UBS Group set a $24.00 price objective on shares of Ooma in a research report on Wednesday, May 27th. B. Riley Financial restated a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a report on Wednesday, May 27th. Lake Street Capital increased their price target on Ooma from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Ooma in a report on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.33.

About Ooma

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.