Ooma Inc (NYSE:OOMA) CEO Eric B. Stang sold 10,000 shares of Ooma stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $11.59, for a total value of $115,900.00. Following the completion of the sale, the chief executive officer now directly owns 266,500 shares in the company, valued at $3,088,735. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
OOMA traded down $0.55 during trading on Friday, reaching $11.10. The company’s stock had a trading volume of 47,930 shares, compared to its average volume of 65,190. Ooma Inc has a 1 year low of $7.30 and a 1 year high of $12.75. The firm has a market capitalization of $221.19, a price-to-earnings ratio of -16.09 and a beta of 0.80.
Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, March 6th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The business had revenue of $30.22 million during the quarter, compared to the consensus estimate of $29.51 million. Ooma had a negative net margin of 11.46% and a negative return on equity of 32.84%. sell-side analysts forecast that Ooma Inc will post -0.74 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Emancipation Management LLC increased its holdings in shares of Ooma by 6.7% during the 3rd quarter. Emancipation Management LLC now owns 171,892 shares of the technology company’s stock worth $1,813,000 after buying an additional 10,832 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Ooma in the 3rd quarter valued at approximately $115,000. Parametric Portfolio Associates LLC increased its holdings in Ooma by 94.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,092 shares of the technology company’s stock valued at $193,000 after purchasing an additional 11,686 shares during the last quarter. Deutsche Bank AG increased its holdings in Ooma by 35.7% in the 4th quarter. Deutsche Bank AG now owns 44,790 shares of the technology company’s stock valued at $533,000 after purchasing an additional 11,791 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Ooma by 25.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 60,090 shares of the technology company’s stock valued at $718,000 after purchasing an additional 12,253 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.
A number of analysts recently issued reports on OOMA shares. Northland Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Ooma in a report on Wednesday, March 7th. B. Riley upped their target price on Ooma from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Credit Suisse Group reiterated a “neutral” rating and set a $13.00 price objective (up previously from $12.00) on shares of Ooma in a report on Wednesday, March 7th. Bank of America upgraded Ooma from an “underperform” rating to a “neutral” rating and set a $14.00 price objective for the company in a report on Wednesday, March 7th. Finally, Zacks Investment Research lowered Ooma from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Ooma has a consensus rating of “Hold” and an average target price of $14.00.
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Ooma Company Profile
Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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