Andrew H. Galligan Sells 12,407 Shares of Ooma, Inc. (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) Director Andrew H. Galligan sold 12,407 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $12.43, for a total transaction of $154,219.01. Following the completion of the sale, the director now owns 241,081 shares in the company, valued at $2,996,636.83. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ooma Stock Up 0.2%

Shares of OOMA stock traded up $0.02 during mid-day trading on Tuesday, hitting $12.59. 146,196 shares of the company's stock were exchanged, compared to its average volume of 125,503. Ooma, Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $17.00. The stock has a 50-day simple moving average of $12.80 and a two-hundred day simple moving average of $13.59. The stock has a market cap of $347.48 million, a price-to-earnings ratio of 157.12 and a beta of 1.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new position in Ooma in the fourth quarter valued at $363,000. Squarepoint Ops LLC acquired a new position in Ooma in the fourth quarter valued at $186,000. Deutsche Bank AG boosted its holdings in Ooma by 95.4% in the fourth quarter. Deutsche Bank AG now owns 26,182 shares of the technology company's stock valued at $368,000 after acquiring an additional 12,780 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Ooma by 138.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 75,456 shares of the technology company's stock valued at $1,061,000 after acquiring an additional 43,776 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Ooma by 5.4% in the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock valued at $3,031,000 after acquiring an additional 11,107 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company's stock.

Wall Street Analysts Forecast Growth

OOMA has been the topic of several research reports. Benchmark increased their price target on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Lake Street Capital decreased their target price on shares of Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $17.63.

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.

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