Ooma Inc (NYSE:OOMA) CEO Eric B. Stang sold 12,252 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $15.91, for a total transaction of $194,929.32. Following the completion of the transaction, the chief executive officer now directly owns 372,500 shares in the company, valued at $5,926,475. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of NYSE:OOMA traded down $0.15 on Wednesday, reaching $15.85. 68,200 shares of the company were exchanged, compared to its average volume of 68,150. Ooma Inc has a 1-year low of $9.00 and a 1-year high of $16.95. The stock has a market cap of $313.60 million, a PE ratio of -22.97 and a beta of 0.89.
Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, August 28th. The technology company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Ooma had a negative net margin of 11.35% and a negative return on equity of 34.58%. The business had revenue of $31.68 million for the quarter, compared to analysts’ expectations of $30.88 million. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. analysts forecast that Ooma Inc will post -0.75 EPS for the current year.
Several brokerages have issued reports on OOMA. B. Riley boosted their price objective on shares of Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Credit Suisse Group assumed coverage on shares of Ooma in a research note on Friday, August 10th. They set a “neutral” rating and a $13.00 price target on the stock. ValuEngine raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Three equities research 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 company has a consensus rating of “Buy” and an average price target of $15.50.
Large investors have recently bought and sold shares of the company. Royce & Associates LP grew its stake in Ooma by 0.6% in the 2nd quarter. Royce & Associates LP now owns 576,835 shares of the technology company’s stock valued at $8,162,000 after acquiring an additional 3,233 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Ooma by 13.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 42,257 shares of the technology company’s stock valued at $598,000 after acquiring an additional 5,157 shares during the last quarter. American Century Companies Inc. grew its stake in Ooma by 20.9% in the 1st quarter. American Century Companies Inc. now owns 39,009 shares of the technology company’s stock valued at $425,000 after acquiring an additional 6,749 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Ooma in the 2nd quarter valued at about $157,000. Finally, B. Riley Financial Inc. grew its stake in Ooma by 13.1% in the 1st quarter. B. Riley Financial Inc. now owns 100,441 shares of the technology company’s stock valued at $1,095,000 after acquiring an additional 11,643 shares during the last quarter. 74.51% of the stock is currently owned by institutional investors and hedge funds.
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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