Eric Stang Sells 27,666 Shares of Ooma (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric Stang sold 27,666 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $18.50, for a total value of $511,821.00. Following the completion of the transaction, the chief executive officer owned 818,718 shares of the company’s stock, valued at $15,146,283. The trade was a 3.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ooma Price Performance

NYSE:OOMA opened at $18.38 on Friday. Ooma, Inc. has a 52-week low of $9.79 and a 52-week high of $21.96. The company has a market cap of $505.56 million, a P/E ratio of 57.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94. The stock’s 50-day simple moving average is $17.62 and its 200 day simple moving average is $14.33.

Ooma (NYSE:OOMA) last issued its quarterly earnings results on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $81.15 million during the quarter, compared to analysts’ expectations of $79.84 million. Ooma had a return on equity of 20.21% and a net margin of 3.17%.Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, sell-side analysts forecast that Ooma, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Ooma

Several hedge funds have recently bought and sold shares of the stock. Essential Partners LLC grew its position in shares of Ooma by 8.3% in the first quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock valued at $119,000 after purchasing an additional 626 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Ooma by 247.3% during the 1st quarter. Quantinno Capital Management LP now owns 70,703 shares of the technology company’s stock worth $1,029,000 after purchasing an additional 50,347 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Ooma in the 1st quarter valued at $1,415,000. Renaissance Technologies LLC boosted its stake in Ooma by 12.2% in the 1st quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company’s stock valued at $13,273,000 after purchasing an additional 99,100 shares during the period. Finally, Walleye Capital LLC grew its holdings in Ooma by 63.3% in the 1st quarter. Walleye Capital LLC now owns 35,662 shares of the technology company’s stock valued at $519,000 after buying an additional 13,829 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OOMA has been the subject of several analyst reports. Alliance Global Partners reissued a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. Citigroup reaffirmed a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Benchmark restated a “buy” rating on shares of Ooma in a research note on Thursday, March 5th. Finally, UBS Group set a $24.00 target price on shares of Ooma in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Ooma Company Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.