State of Wyoming Takes Position in Ooma, Inc. $OOMA

State of Wyoming purchased a new position in shares of Ooma, Inc. (NYSE:OOMA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,944 shares of the technology company’s stock, valued at approximately $518,000. State of Wyoming owned about 0.10% of Ooma as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Amundi acquired a new position in Ooma during the 1st quarter valued at about $387,000. AQR Capital Management LLC acquired a new stake in shares of Ooma in the first quarter valued at approximately $478,000. Millennium Management LLC increased its stake in shares of Ooma by 81.6% in the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after purchasing an additional 142,220 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ooma by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock valued at $3,254,000 after buying an additional 11,300 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Ooma by 162.6% during the first quarter. Jane Street Group LLC now owns 34,227 shares of the technology company’s stock valued at $448,000 after buying an additional 21,192 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric B. Stang sold 27,666 shares of Ooma stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $18.50, for a total value of $511,821.00. Following the transaction, the chief executive officer directly owned 818,718 shares of the company’s stock, valued at $15,146,283. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jenny C. Yeh sold 12,840 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $19.57, for a total transaction of $251,278.80. Following the sale, the senior vice president owned 264,615 shares in the company, valued at $5,178,515.55. This represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 118,652 shares of company stock worth $2,225,186 over the last three months. Company insiders own 9.90% of the company’s stock.

Ooma Trading Down 3.8%

Shares of OOMA stock opened at $20.04 on Tuesday. The stock has a 50-day simple moving average of $19.73 and a 200 day simple moving average of $16.60. Ooma, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $22.72. The stock has a market capitalization of $551.10 million, a P/E ratio of 62.63 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.94 and a debt-to-equity ratio of 0.50.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations 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. On average, sell-side analysts expect that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. William Blair set a $24.00 price objective on Ooma in a report on Monday. B. Riley Financial reaffirmed a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of Ooma in a research report on Monday. Citigroup reissued a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. Finally, UBS Group set a $24.00 price target on Ooma in a report on Wednesday, May 27th. Four research 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Ooma 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.