Ooma, Inc. (NYSE:OOMA) Director William D. Pearce Sells 3,700 Shares

Ooma, Inc. (NYSE:OOMA) Director William D. Pearce sold 3,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total value of $57,498.00. Following the sale, the director now directly owns 163,353 shares of the company’s stock, valued at approximately $2,538,505.62. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Ooma Trading Down 1.5 %

OOMA opened at $15.14 on Friday. The stock has a fifty day moving average of $13.23 and a 200-day moving average of $10.88. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08.

Institutional Trading of Ooma

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Investment Advisers Inc. purchased a new stake in shares of Ooma during the third quarter worth $98,000. Bailard Inc. purchased a new stake in shares of Ooma during the second quarter worth $108,000. SG Americas Securities LLC purchased a new stake in shares of Ooma during the third quarter worth $115,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ooma during the second quarter worth $119,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Ooma during the third quarter worth $126,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Lake Street Capital raised their price objective on Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Northland Securities increased their target price on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. JMP Securities restated a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. Finally, Benchmark increased their target price on Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.60.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.