Bank of New York Mellon Corp Sells 1,945 Shares of Ooma Inc (NYSE:OOMA)

Bank of New York Mellon Corp lowered its holdings in shares of Ooma Inc (NYSE:OOMA) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 83,447 shares of the technology company’s stock after selling 1,945 shares during the period. Bank of New York Mellon Corp’s holdings in Ooma were worth $874,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Ooma by 3.3% during the second quarter. JPMorgan Chase & Co. now owns 308,414 shares of the technology company’s stock worth $3,245,000 after purchasing an additional 9,990 shares during the period. GSA Capital Partners LLP grew its holdings in Ooma by 58.0% during the second quarter. GSA Capital Partners LLP now owns 17,227 shares of the technology company’s stock worth $181,000 after purchasing an additional 6,327 shares during the period. Russell Investments Group Ltd. grew its holdings in Ooma by 37.9% during the second quarter. Russell Investments Group Ltd. now owns 1,395,008 shares of the technology company’s stock worth $14,620,000 after purchasing an additional 383,436 shares during the period. AWM Investment Company Inc. grew its holdings in Ooma by 1.9% during the second quarter. AWM Investment Company Inc. now owns 1,253,006 shares of the technology company’s stock worth $13,132,000 after purchasing an additional 23,000 shares during the period. Finally, Wasatch Advisors Inc. grew its holdings in Ooma by 33.5% during the second quarter. Wasatch Advisors Inc. now owns 448,569 shares of the technology company’s stock worth $4,701,000 after purchasing an additional 112,673 shares during the period. Institutional investors and hedge funds own 76.06% of the company’s stock.

Shares of OOMA stock opened at $11.22 on Friday. The firm has a 50 day moving average price of $11.50 and a two-hundred day moving average price of $12.16. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $227.88 million, a PE ratio of -16.26 and a beta of 0.86. Ooma Inc has a 12-month low of $9.85 and a 12-month high of $16.72.

Ooma (NYSE:OOMA) last issued its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. The firm had revenue of $37.30 million during the quarter, compared to the consensus estimate of $35.64 million. Ooma had a negative net margin of 12.05% and a negative return on equity of 46.20%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. As a group, research analysts expect that Ooma Inc will post -0.82 EPS for the current year.

In other news, CEO Eric B. Stang sold 21,233 shares of Ooma stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $12.52, for a total value of $265,837.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric B. Stang sold 4,267 shares of Ooma stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $12.00, for a total transaction of $51,204.00. Following the completion of the sale, the chief executive officer now owns 362,500 shares of the company’s stock, valued at $4,350,000. The disclosure for this sale can be found here. Insiders have sold 76,500 shares of company stock valued at $901,091 over the last 90 days. Company insiders own 10.19% of the company’s stock.

Several equities research analysts have issued reports on the stock. Citigroup downgraded shares of Ooma from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. B. Riley restated a “buy” rating on shares of Ooma in a research report on Wednesday, August 28th. ValuEngine downgraded shares of Ooma from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 17th. Bank of America downgraded shares of Ooma from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. Finally, Credit Suisse Group cut their price objective on shares of Ooma from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Ooma currently has an average rating of “Hold” and a consensus target price of $18.10.

About Ooma

Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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