Insider Selling: Ooma (NYSE:OOMA) CEO Sells 29,639 Shares

Ooma, Inc. (NYSE:OOMA) CEO Eric Stang sold 29,639 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $23.08, for a total transaction of $684,068.12. Following the transaction, the chief executive officer owned 1,199,941 shares of the company’s stock, valued at approximately $27,694,638.28. The trade was a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ooma Stock Performance

Shares of NYSE:OOMA traded up $0.02 during midday trading on Monday, hitting $22.79. The stock had a trading volume of 433,523 shares, compared to its average volume of 311,439. The company has a market capitalization of $628.95 million, a PE ratio of 59.97 and a beta of 1.20. The stock has a 50 day moving average price of $21.26 and a two-hundred day moving average price of $18.00. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Ooma, Inc. has a 1 year low of $9.79 and a 1 year high of $26.19.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Ooma had a net margin of 3.57% and a return on equity of 23.55%. The firm had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $81.72 million. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. As a group, equities analysts predict that Ooma, Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OOMA shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a research note on Thursday, August 27th. B. Riley Financial boosted their price objective on shares of Ooma from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. William Blair set a $24.00 target price on shares of Ooma in a research report on Monday, August 17th. Citigroup reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Finally, Lake Street Capital restated a “buy” rating and issued a $25.00 price target on shares of Ooma in a report on Thursday, August 27th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Trading of Ooma

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in shares of Ooma during the 2nd quarter worth approximately $244,000. California State Teachers Retirement System increased its position in Ooma by 395.6% during the second quarter. California State Teachers Retirement System now owns 6,804 shares of the technology company’s stock worth $131,000 after buying an additional 5,431 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ooma in the second quarter worth $549,000. Susquehanna International Group LLP lifted its position in shares of Ooma by 221.3% in the second quarter. Susquehanna International Group LLP now owns 72,537 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 49,963 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Ooma during the second quarter valued at $1,436,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Ooma Company Profile

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related technology services to small and midsized businesses, enterprises, and residential customers. Its services are delivered primarily through internet-based platforms designed to help customers manage communications without relying on traditional on-premises phone systems.

For businesses, Ooma offers cloud phone and unified communications solutions under brands and product lines that include Ooma Office, Ooma Pro, Ooma Enterprise, and Ooma AirDial.