Eric B. Stang Sells 61,580 Shares of Ooma, Inc. (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric B. Stang sold 61,580 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction of $929,858.00. Following the completion of the sale, the chief executive officer now owns 1,245,665 shares in the company, valued at $18,809,541.50. This represents a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ooma Price Performance

OOMA stock opened at $15.14 on Friday. The stock has a market capitalization of $405.62 million, a price-to-earnings ratio of -40.91 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $17.00. The stock’s fifty day simple moving average is $13.23 and its 200-day simple moving average is $10.88.

Institutional Trading of Ooma

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in shares of Ooma by 40.4% during the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after acquiring an additional 154,117 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Ooma by 64.8% during the second 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 last quarter. Vanguard Group Inc. raised its stake in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after purchasing an additional 68,430 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after purchasing an additional 66,678 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Ooma by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock valued at $8,393,000 after purchasing an additional 33,100 shares during the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Benchmark upped their price target on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. B. Riley raised their price target on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. Northland Securities upped their price objective on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.