Ooma, Inc. (NYSE:OOMA) CEO Sells $123,807.80 in Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric B. Stang sold 5,890 shares of the stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $21.02, for a total value of $123,807.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

OOMA traded up $1.58 during trading hours on Thursday, hitting $22.67. The company’s stock had a trading volume of 884,574 shares, compared to its average volume of 124,033. Ooma, Inc. has a fifty-two week low of $12.36 and a fifty-two week high of $23.33. The stock has a market capitalization of $526.19 million, a price-to-earnings ratio of -186.08 and a beta of 0.41. The business’s 50-day moving average is $17.07.

Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, May 25th. The technology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. Ooma had a negative return on equity of 3.19% and a negative net margin of 1.44%. As a group, equities research analysts forecast that Ooma, Inc. will post -0.27 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in shares of Ooma during the 1st quarter valued at $28,000. Citigroup Inc. increased its position in shares of Ooma by 312.5% during the 4th quarter. Citigroup Inc. now owns 4,117 shares of the technology company’s stock valued at $59,000 after purchasing an additional 3,119 shares during the period. Panagora Asset Management Inc. increased its position in shares of Ooma by 13.8% during the 1st quarter. Panagora Asset Management Inc. now owns 5,316 shares of the technology company’s stock valued at $84,000 after purchasing an additional 645 shares during the period. UBS Group AG increased its position in shares of Ooma by 77.0% during the 1st quarter. UBS Group AG now owns 5,331 shares of the technology company’s stock valued at $84,000 after purchasing an additional 2,319 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Ooma by 26.9% during the 1st quarter. Royal Bank of Canada now owns 8,580 shares of the technology company’s stock valued at $136,000 after purchasing an additional 1,821 shares during the period. Institutional investors own 82.08% of the company’s stock.

A number of brokerages have recently weighed in on OOMA. B. Riley increased their price target on Ooma from $23.50 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, May 27th. Zacks Investment Research upgraded Ooma from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, June 3rd. Four investment analysts have rated the stock with a buy rating, Ooma presently has a consensus rating of “Buy” and an average target price of $22.80.

About Ooma

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart software-as-a-service and unified-communications-as-a-service (UCaaS) platforms serve as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services.

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