Bank of America Corp DE Makes New Investment in Ooma, Inc. $OOMA

Key Points

• Bank of America acquired 74,738 Ooma shares worth approximately $1.44 million, representing about 0.27% of the company. Institutional investors and hedge funds collectively own 80.42% of Ooma.
• Analyst sentiment is favorable, with six Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $25.
• Ooma exceeded quarterly expectations, reporting $0.35 in EPS versus the $0.33 estimate and revenue of $83.23 million versus $81.72 million expected. Shares opened at $20.79, while insiders sold roughly $2.52 million of stock over the past three months.

Bank of America Corp DE acquired a new stake in Ooma, Inc. (NYSE:OOMA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,738 shares of the technology company's stock, valued at approximately $1,436,000. Bank of America Corp DE owned approximately 0.27% of Ooma as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Ooma during the second quarter worth approximately $69,001,000. Hillsdale Investment Management Inc. purchased a new position in Ooma during the first quarter worth about $5,847,000. Globeflex Capital L P purchased a new position in Ooma during the second quarter worth about $4,235,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ooma in the 2nd quarter worth about $3,746,000. Finally, AWM Investment Company Inc. acquired a new stake in Ooma in the 2nd quarter worth about $3,341,000. Institutional investors and hedge funds own 80.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating on shares of Ooma in a research note on Monday, August 17th. Citigroup reaffirmed a "market perform" rating on shares of Ooma in a research report on Monday. Lake Street Capital reiterated a "buy" rating and issued a $25.00 target price on shares of Ooma in a report on Thursday, August 27th. B. Riley Financial boosted their price target on Ooma from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Finally, Alliance Global Partners restated a "buy" rating on shares of Ooma in a research note on Thursday, August 27th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.00.

Ooma Trading Up 1.8%

OOMA opened at $20.79 on Friday. The firm's 50 day moving average is $21.74 and its 200-day moving average is $18.85. Ooma, Inc. has a 52-week low of $9.79 and a 52-week high of $26.19. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $573.89 million, a P/E ratio of 54.72 and a beta of 1.23.

Ooma (NYSE:OOMA - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $83.23 million for the quarter, compared to the consensus estimate of $81.72 million. Ooma had a net margin of 3.57% and a return on equity of 23.55%. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Analysts expect that Ooma, Inc. will post 0.87 EPS for the current fiscal year.

Insider Transactions at Ooma

In related news, CFO Shigeyuki Hamamatsu sold 4,807 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $22.33, for a total value of $107,340.31. Following the sale, the chief financial officer directly owned 179,420 shares of the company's stock, valued at $4,006,448.60. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Namrata Sabharwal sold 2,481 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.20, for a total transaction of $57,559.20. Following the transaction, the chief accounting officer owned 83,927 shares in the company, valued at $1,947,106.40. This trade represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 112,554 shares of company stock valued at $2,518,971 in the last three months. 9.90% of the stock is currently owned by company insiders.

Ooma Profile

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related technology services to small and midsized businesses, enterprises, and residential customers. Its services are delivered primarily through internet-based platforms designed to help customers manage communications without relying on traditional on-premises phone systems.

For businesses, Ooma offers cloud phone and unified communications solutions under brands and product lines that include Ooma Office, Ooma Pro, Ooma Enterprise, and Ooma AirDial.

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