Ravi Narula Acquires 3,000 Shares of Ooma Inc (OOMA) Stock
Ooma Inc (NYSE:OOMA) CFO Ravi Narula acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average cost of $8.30 per share, for a total transaction of $24,900.00. Following the transaction, the chief financial officer now owns 218,200 shares of the company’s stock, valued at approximately $1,811,060. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ooma Inc (NYSE:OOMA) traded up 2.35% during trading on Friday, hitting $8.70. 202,031 shares of the stock were exchanged. The stock’s market cap is $158.73 million. Ooma Inc has a 1-year low of $6.67 and a 1-year high of $12.30. The firm’s 50 day moving average price is $11.53 and its 200-day moving average price is $9.96.
Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 23rd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Ooma had a negative return on equity of 32.06% and a negative net margin of 13.13%. The company had revenue of $27.58 million for the quarter, compared to analysts’ expectations of $28.14 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, analysts anticipate that Ooma Inc will post ($0.11) EPS for the current year.
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Several large investors have recently made changes to their positions in OOMA. AWM Investment Company Inc. bought a new stake in shares of Ooma during the first quarter worth about $11,075,000. Ameriprise Financial Inc. boosted its stake in shares of Ooma by 97.1% in the first quarter. Ameriprise Financial Inc. now owns 1,356,000 shares of the technology company’s stock worth $13,493,000 after buying an additional 668,100 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Ooma by 474.5% in the first quarter. Royce & Associates LP now owns 551,560 shares of the technology company’s stock worth $5,488,000 after buying an additional 455,550 shares in the last quarter. Park West Asset Management LLC boosted its stake in shares of Ooma by 163.1% in the first quarter. Park West Asset Management LLC now owns 700,078 shares of the technology company’s stock worth $6,966,000 after buying an additional 434,017 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Ooma by 112.2% in the first quarter. Renaissance Technologies LLC now owns 780,000 shares of the technology company’s stock worth $7,761,000 after buying an additional 412,500 shares in the last quarter. Institutional investors own 26.30% of the company’s stock.
Several brokerages recently weighed in on OOMA. B. Riley reaffirmed a “buy” rating and set a $15.50 price objective on shares of Ooma in a research report on Thursday, May 18th. Bank of America Corp lowered shares of Ooma from a “buy” rating to an “underperform” rating in a research report on Wednesday. Credit Suisse Group AG lowered shares of Ooma from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $12.00 in a research report on Wednesday. William Blair lowered shares of Ooma from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of Ooma from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Ooma currently has an average rating of “Hold” and a consensus target price of $13.38.
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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