a16z Perennial Management L.P. Increases Stake in Omada Health, Inc. $OMDA

a16z Perennial Management L.P. lifted its holdings in Omada Health, Inc. (NASDAQ:OMDA) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,466 shares of the company’s stock after purchasing an additional 35,334 shares during the period. Omada Health comprises about 0.2% of a16z Perennial Management L.P.’s portfolio, making the stock its 28th largest holding. a16z Perennial Management L.P.’s holdings in Omada Health were worth $2,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Omada Health by 284.5% during the 1st quarter. Bank of New York Mellon Corp now owns 75,681 shares of the company’s stock worth $951,000 after purchasing an additional 55,996 shares during the period. Fifth Third Bancorp purchased a new position in shares of Omada Health during the 1st quarter worth approximately $127,000. Inspire Investing LLC boosted its position in shares of Omada Health by 35.5% during the 1st quarter. Inspire Investing LLC now owns 40,462 shares of the company’s stock worth $509,000 after purchasing an additional 10,591 shares during the period. SG Americas Securities LLC acquired a new stake in Omada Health in the 1st quarter valued at approximately $10,401,000. Finally, XTX Topco Ltd purchased a new stake in Omada Health in the fourth quarter valued at approximately $297,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Canaccord Genuity Group raised their price target on Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Weiss Ratings downgraded shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. Citizens Jmp raised their price target on shares of Omada Health from $21.00 to $27.00 and gave the company a “market outperform” rating in a research report on Monday. Finally, Barclays boosted their price target on shares of Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.33.

Insider Activity at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 12,337 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $23.09, for a total transaction of $284,861.33. Following the transaction, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at approximately $4,322,655.81. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the completion of the transaction, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,462 shares of company stock valued at $3,927,425 in the last three months. 6.38% of the stock is currently owned by company insiders.

Omada Health Price Performance

NASDAQ:OMDA opened at $22.99 on Wednesday. Omada Health, Inc. has a 12 month low of $10.28 and a 12 month high of $26.92. The firm has a market capitalization of $1.37 billion and a PE ratio of -85.15. The business’s fifty day moving average price is $19.35 and its 200 day moving average price is $15.77.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $78.05 million during the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. As a group, equities analysts anticipate that Omada Health, Inc. will post -0.01 EPS for the current year.

About Omada Health

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company’s platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.