Insider Selling: Ooma Inc (OOMA) CEO Sells 5,000 Shares of Stock

Ooma Inc (NYSE:OOMA) CEO Eric B. Stang sold 5,000 shares of Ooma stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $15.00, for a total value of $75,000.00. Following the transaction, the chief executive officer now owns 327,500 shares of the company’s stock, valued at approximately $4,912,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

OOMA stock traded down $0.08 during mid-day trading on Thursday, hitting $14.77. 53,200 shares of the company were exchanged, compared to its average volume of 70,845. The company has a market capitalization of $325.36 million, a PE ratio of -21.41 and a beta of 0.88. Ooma Inc has a 1-year low of $9.00 and a 1-year high of $17.50.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, August 28th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $31.68 million during the quarter, compared to the consensus estimate of $30.88 million. Ooma had a negative net margin of 11.35% and a negative return on equity of 35.06%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the business posted ($0.02) earnings per share. Research analysts forecast that Ooma Inc will post -0.75 earnings per share for the current fiscal year.

A number of equities analysts recently commented on OOMA shares. B. Riley lifted their price target on Ooma from $15.50 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. ValuEngine upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on Ooma in a report on Friday, August 10th. They set a “neutral” rating and a $13.00 price target for the company. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Ooma presently has a consensus rating of “Buy” and a consensus price target of $15.50.

A number of hedge funds have recently modified their holdings of OOMA. Engineers Gate Manager LP acquired a new stake in Ooma during the second quarter worth approximately $157,000. Bank of Montreal Can lifted its position in Ooma by 7,344.6% during the third quarter. Bank of Montreal Can now owns 9,678 shares of the technology company’s stock worth $160,000 after acquiring an additional 9,548 shares during the last quarter. Trexquant Investment LP acquired a new stake in Ooma during the second quarter worth approximately $173,000. Schwab Charles Investment Management Inc. lifted its position in Ooma by 29.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 37,100 shares of the technology company’s stock worth $405,000 after acquiring an additional 8,400 shares during the last quarter. Finally, Strs Ohio lifted its position in Ooma by 1,036.7% during the second quarter. Strs Ohio now owns 55,700 shares of the technology company’s stock worth $788,000 after acquiring an additional 50,800 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

About Ooma

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

Read More: NASDAQ Stock Market Explained

Insider Buying and Selling by Quarter for Ooma (NYSE:OOMA)

Receive News & Ratings for Ooma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ooma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply