James A. Gustke Sells 5,500 Shares of Ooma Inc (OOMA) Stock

Ooma Inc (NYSE:OOMA) VP James A. Gustke sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $14.86, for a total transaction of $81,730.00. Following the completion of the transaction, the vice president now owns 132,775 shares in the company, valued at $1,973,036.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of OOMA stock traded down $0.08 during trading hours on Friday, hitting $14.82. The company had a trading volume of 29,200 shares, compared to its average volume of 70,280. Ooma Inc has a fifty-two week low of $9.00 and a fifty-two week high of $17.50. The firm has a market cap of $295.18 million, a P/E ratio of -21.58 and a beta of 0.88.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, August 28th. The technology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Ooma had a negative net margin of 11.35% and a negative return on equity of 35.06%. The firm had revenue of $31.68 million for the quarter, compared to analyst estimates of $30.88 million. During the same period in the prior year, the business posted ($0.02) EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts forecast that Ooma Inc will post -0.75 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in Ooma by 16.9% during the 3rd quarter. Wells Fargo & Company MN now owns 41,150 shares of the technology company’s stock worth $683,000 after buying an additional 5,952 shares during the period. Bank of Montreal Can increased its stake in Ooma by 7,344.6% during the 3rd quarter. Bank of Montreal Can now owns 9,678 shares of the technology company’s stock worth $160,000 after buying an additional 9,548 shares during the period. Northern Trust Corp increased its stake in Ooma by 4.4% during the 2nd quarter. Northern Trust Corp now owns 201,887 shares of the technology company’s stock worth $2,857,000 after buying an additional 8,555 shares during the period. Millennium Management LLC increased its stake in Ooma by 82.7% during the 2nd quarter. Millennium Management LLC now owns 81,880 shares of the technology company’s stock worth $1,159,000 after buying an additional 37,064 shares during the period. Finally, Bank of America Corp DE increased its stake in Ooma by 119.6% during the 2nd quarter. Bank of America Corp DE now owns 67,880 shares of the technology company’s stock worth $960,000 after buying an additional 36,966 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

OOMA has been the topic of several recent analyst reports. B. Riley upped their price objective on shares of Ooma from $15.50 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Credit Suisse Group initiated coverage on shares of Ooma in a report on Friday, August 10th. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, ValuEngine upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.50.

Ooma Company Profile

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

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