Insider Selling: Ooma, Inc. (NYSE:OOMA) CEO Sells 10,727 Shares of Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) CEO Eric B. Stang sold 10,727 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $12.98, for a total value of $139,236.46. Following the completion of the sale, the chief executive officer now owns 1,236,997 shares of the company's stock, valued at $16,056,221.06. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ooma Trading Down 3.7%

OOMA stock traded down $0.47 during midday trading on Friday, hitting $12.23. The company had a trading volume of 118,013 shares, compared to its average volume of 124,375. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma, Inc. has a 52 week low of $7.83 and a 52 week high of $17.00. The stock's 50 day moving average price is $12.76 and its 200 day moving average price is $13.72. The stock has a market cap of $337.07 million, a price-to-earnings ratio of -33.05 and a beta of 1.22.

Hedge Funds Weigh In On Ooma

Several hedge funds have recently made changes to their positions in OOMA. Bard Associates Inc. increased its stake in shares of Ooma by 31.1% during the fourth quarter. Bard Associates Inc. now owns 26,675 shares of the technology company's stock valued at $375,000 after buying an additional 6,328 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ooma by 40.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company's stock valued at $3,223,000 after buying an additional 66,009 shares during the period. Globeflex Capital L P increased its stake in shares of Ooma by 473.7% during the fourth quarter. Globeflex Capital L P now owns 77,305 shares of the technology company's stock valued at $1,087,000 after buying an additional 63,831 shares during the period. Quantbot Technologies LP purchased a new position in shares of Ooma during the fourth quarter valued at approximately $92,000. Finally, Sei Investments Co. increased its stake in shares of Ooma by 101.0% during the fourth quarter. Sei Investments Co. now owns 36,378 shares of the technology company's stock valued at $511,000 after buying an additional 18,275 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OOMA has been the subject of several recent research reports. Lake Street Capital lowered their price objective on Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Benchmark boosted their price objective on Ooma from $17.00 to $20.00 and gave the company a "buy" rating 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 assigned a strong buy rating to the company. According to MarketBeat, Ooma currently has an average rating of "Buy" and an average price target of $17.63.

Ooma Company Profile

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.