Insider Selling: Ooma (NYSE:OOMA) CEO Sells $464,240.00 in Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric Stang sold 23,212 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $20.00, for a total transaction of $464,240.00. Following the transaction, the chief executive officer owned 795,506 shares in the company, valued at $15,910,120. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ooma Stock Down 1.5%

Shares of OOMA stock opened at $20.24 on Thursday. Ooma, Inc. has a 52-week low of $9.79 and a 52-week high of $21.96. The stock has a market cap of $556.60 million, a price-to-earnings ratio of 63.25 and a beta of 1.20. The firm’s 50-day moving average is $18.53 and its 200-day moving average is $15.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $81.15 million during the quarter, compared to analysts’ expectations 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. Sell-side analysts predict that Ooma, Inc. will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Ooma

Several institutional investors and hedge funds have recently made changes to their positions in the company. North Star Investment Management Corp. bought a new stake in shares of Ooma in the first quarter valued at about $873,000. Hsbc Holdings PLC grew its stake 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 valued at $1,132,000 after acquiring an additional 50,114 shares in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Ooma during the fourth quarter worth about $1,877,000. Hillsdale Investment Management Inc. bought a new position in Ooma during the first quarter worth about $5,847,000. Finally, JPMorgan Chase & Co. raised its stake in Ooma by 8.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 553,916 shares of the technology company’s stock worth $6,641,000 after purchasing an additional 44,589 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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