Assenagon Asset Management S.A. Has $2.91 Million Position in Ooma, Inc. $OOMA

Key Points

• Assenagon Asset Management reduced its Ooma stake by 26.6% in the second quarter, selling 54,929 shares and retaining 151,552 shares worth approximately $2.91 million. Institutional investors and hedge funds collectively own 80.42% of Ooma.
• Ooma insiders sold 118,652 shares worth $2.23 million over the past 90 days, including sales by Senior Vice President Jenny Yeh and Director Russell Mann. Company insiders own 9.90% of the stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $22.33, while Ooma recently exceeded quarterly earnings and revenue expectations. Shares opened at $20.91, compared with a 52-week range of $9.79 to $22.72.

Assenagon Asset Management S.A. lessened its position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 26.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,552 shares of the technology company's stock after selling 54,929 shares during the period. Assenagon Asset Management S.A. owned about 0.55% of Ooma worth $2,913,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OOMA. IFC & Insurance Marketing Inc. bought a new stake in Ooma during the fourth quarter worth $34,000. Tower Research Capital LLC TRC boosted its position in shares of Ooma by 225.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company's stock valued at $47,000 after acquiring an additional 2,507 shares during the period. Meeder Asset Management Inc. grew its position in shares of Ooma by 28.3% during the 1st quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company's stock worth $49,000 after purchasing an additional 740 shares in the last quarter. CWM LLC grew its position in Ooma by 45.6% during the fourth quarter. CWM LLC now owns 4,400 shares of the technology company's stock worth $52,000 after buying an additional 1,378 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Ooma by 24.1% during the 4th quarter. Royal Bank of Canada now owns 4,466 shares of the technology company's stock worth $53,000 after purchasing an additional 867 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ooma

In related news, SVP Jenny C. Yeh sold 12,840 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $19.57, for a total transaction of $251,278.80. Following the completion of the sale, the senior vice president directly owned 264,615 shares in the company, valued at $5,178,515.55. This represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Russell Mann sold 20,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $18.35, for a total transaction of $367,000.00. Following the sale, the director directly owned 116,115 shares of the company's stock, valued at $2,130,710.25. The trade was a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 118,652 shares of company stock worth $2,225,186. Company insiders own 9.90% of the company's stock.

Analyst Upgrades and Downgrades

OOMA has been the topic of a number of recent analyst reports. B. Riley Financial reissued a "buy" rating on shares of Ooma in a research note on Monday, May 18th. UBS Group set a $24.00 price objective on shares of Ooma in a report on Wednesday, May 27th. Alliance Global Partners reiterated a "buy" rating on shares of Ooma in a research report on Wednesday, May 27th. Citigroup reiterated a "market perform" rating on shares of Ooma in a research report on Wednesday, May 27th. Finally, Lake Street Capital boosted their price objective on Ooma from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.33.

Ooma Stock Performance

NYSE OOMA opened at $20.91 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94. The company has a market capitalization of $575.13 million, a PE ratio of 65.36 and a beta of 1.19. The company has a 50-day simple moving average of $19.59 and a 200 day simple moving average of $16.49. Ooma, Inc. has a 52-week low of $9.79 and a 52-week high of $22.72.

Ooma (NYSE:OOMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $81.15 million for the quarter, compared to the consensus estimate of $79.84 million. Ooma had a net margin of 3.17% and a return on equity of 20.21%. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. On average, research analysts predict that Ooma, Inc. will post 0.8 EPS for the current year.

About Ooma

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.

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