Insider Selling: Ooma, Inc. (NYSE:OOMA) Director Sells 14,824 Shares of Stock

Ooma, Inc. (NYSE:OOMA) Director Andrew H. Galligan sold 14,824 shares of Ooma stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the transaction, the director now directly owns 241,932 shares in the company, valued at approximately $3,522,529.92. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ooma Trading Up 2.6 %

Shares of Ooma stock traded up $0.36 on Thursday, reaching $14.41. The company had a trading volume of 285,823 shares, compared to its average volume of 108,666. The firm has a market cap of $389.07 million, a price-to-earnings ratio of -38.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.83. The firm’s 50-day moving average price is $13.44 and its two-hundred day moving average price is $11.05. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00.

Institutional Investors Weigh In On Ooma

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in Ooma by 64.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after purchasing an additional 76,161 shares during the period. Bailard Inc. purchased a new position in Ooma during the 2nd quarter valued at $108,000. Allspring Global Investments Holdings LLC grew its position in Ooma by 33.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company’s stock valued at $268,000 after acquiring an additional 6,732 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Ooma by 17.1% during the second quarter. Rhumbline Advisers now owns 37,636 shares of the technology company’s stock worth $374,000 after purchasing an additional 5,494 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Ooma by 40.4% in the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 154,117 shares during the last quarter. Institutional investors own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OOMA. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Lake Street Capital upped their target price on shares of Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. B. Riley raised their price target on Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. Benchmark upped their price target on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Northland Securities boosted their target price on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ooma has a consensus rating of “Buy” and a consensus price target of $16.60.

About Ooma

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.