Ooma, Inc. $OOMA Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Ooma, Inc. (NYSE:OOMA) by 12.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 912,203 shares of the technology company’s stock after buying an additional 99,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Ooma were worth $13,273,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Hsbc Holdings PLC raised its holdings in shares of Ooma by 107.3% in the fourth quarter. Hsbc Holdings PLC now owns 96,830 shares of the technology company’s stock worth $1,132,000 after acquiring an additional 50,114 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Ooma during the first quarter valued at $873,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Ooma during the first quarter valued at $5,847,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in Ooma during the 4th quarter worth about $1,877,000. Finally, Assenagon Asset Management S.A. increased its position in Ooma by 32.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 206,481 shares of the technology company’s stock worth $3,004,000 after purchasing an additional 50,413 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Insider Buying and Selling at Ooma

In related news, CEO Eric B. Stang sold 27,666 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 818,718 shares in the company, valued at approximately $15,146,283. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shigeyuki Hamamatsu sold 27,696 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.64, for a total transaction of $488,557.44. Following the transaction, the chief financial officer directly owned 193,283 shares of the company’s stock, valued at $3,409,512.12. This trade represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 118,652 shares of company stock worth $2,225,186. 9.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Ooma Stock Performance

Ooma stock opened at $21.75 on Friday. The stock has a fifty day moving average price of $18.99 and a 200 day moving average price of $15.86. Ooma, Inc. has a 52 week low of $9.79 and a 52 week high of $22.20. The firm has a market capitalization of $598.10 million, a P/E ratio of 67.97 and a beta of 1.20. 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 issued its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $81.15 million for the quarter, compared to analyst estimates of $79.84 million. Ooma had a return on equity of 20.21% and a net margin of 3.17%.Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. Equities research analysts anticipate that Ooma, Inc. will post 0.8 earnings per share for the current year.

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.