Several other brokerages also recently issued reports on OOMA. Zacks Investment Research downgraded shares of Ooma from a hold rating to a sell rating in a report on Thursday, March 14th. B. Riley boosted their price objective on shares of Ooma from $20.00 to $20.50 and gave the company a buy rating in a research report on Wednesday, March 6th. JMP Securities reissued a buy rating and issued a $20.00 price objective on shares of Ooma in a research report on Wednesday, March 6th. Finally, Northland Securities reissued a buy rating and issued a $18.00 price objective on shares of Ooma in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $17.70.
Shares of NYSE OOMA opened at $11.87 on Thursday. Ooma has a 12-month low of $11.53 and a 12-month high of $17.50. The stock has a market capitalization of $244.83 million, a price-to-earnings ratio of -17.20 and a beta of 0.91.
In other news, CEO Eric B. Stang sold 12,340 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $13.84, for a total value of $170,785.60. Following the completion of the transaction, the chief executive officer now owns 397,500 shares of the company’s stock, valued at $5,501,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders sold 13,340 shares of company stock valued at $184,286. Company insiders own 10.19% of the company’s stock.
Large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of Ooma in the first quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its position in shares of Ooma by 385.7% in the fourth quarter. Meeder Asset Management Inc. now owns 2,147 shares of the technology company’s stock valued at $29,000 after buying an additional 1,705 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Ooma by 99,100.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the technology company’s stock valued at $53,000 after buying an additional 3,964 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Ooma by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock valued at $88,000 after buying an additional 4,960 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Ooma in the third quarter valued at approximately $168,000. 74.20% of the stock is owned by institutional investors and hedge funds.
Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.
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