Bank of New York Mellon Corp Takes $2.31 Million Position in Ooma, Inc. $OOMA

Key Points

• Bank of New York Mellon purchased 120,444 Ooma shares worth approximately $2.31 million, giving it a 0.44% stake. Institutional investors collectively own 80.42% of the company.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating; Ooma has a “Moderate Buy” consensus and an average price target of $25, including a raised $27 target from B. Riley.
• Ooma exceeded quarterly expectations with EPS of $0.35 versus $0.33 expected and revenue of $83.23 million versus $81.72 million forecast. However, insiders sold 117,955 shares worth $2.38 million over the past 90 days.

Bank of New York Mellon Corp purchased a new stake in Ooma, Inc. (NYSE:OOMA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,444 shares of the technology company's stock, valued at approximately $2,315,000. Bank of New York Mellon Corp owned approximately 0.44% of Ooma at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Ooma by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,501,963 shares of the technology company's stock valued at $18,009,000 after acquiring an additional 34,960 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Ooma by 12.2% in the 1st quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company's stock valued at $13,273,000 after purchasing an additional 99,100 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ooma by 4.0% in the fourth quarter. JPMorgan Chase & Co. now owns 576,041 shares of the technology company's stock valued at $6,757,000 after purchasing an additional 22,125 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ooma by 17.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 513,820 shares of the technology company's stock valued at $6,161,000 after purchasing an additional 76,088 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Ooma during the first quarter worth about $5,847,000. Hedge funds and other institutional investors own 80.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OOMA. Lake Street Capital reissued a "buy" rating and issued a $25.00 price objective on shares of Ooma in a research note on Thursday, August 27th. B. Riley Financial increased their target price on Ooma from $24.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, August 27th. UBS Group reissued a "buy" rating on shares of Ooma in a research report on Thursday, August 27th. William Blair set a $24.00 price objective on shares of Ooma in a research report on Monday, August 17th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Ooma in a research note on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Insider Activity at Ooma

In related news, CEO Eric B. Stang sold 27,666 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $18.50, for a total transaction of $511,821.00. Following the sale, the chief executive officer directly owned 818,718 shares of the company's stock, valued at approximately $15,146,283. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jenny C. Yeh sold 20,966 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $24.05, for a total value of $504,232.30. Following the sale, the senior vice president directly owned 237,649 shares in the company, valued at approximately $5,715,458.45. This represents a 8.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 117,955 shares of company stock worth $2,376,399 over the last 90 days. Company insiders own 9.90% of the company's stock.

Ooma Price Performance

Shares of OOMA stock opened at $23.21 on Tuesday. Ooma, Inc. has a twelve month low of $9.79 and a twelve month high of $26.19. The company has a market capitalization of $638.27 million, a PE ratio of 61.08 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $21.00 and a 200-day simple moving average of $17.68.

Ooma (NYSE:OOMA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. Ooma had a return on equity of 23.89% and a net margin of 3.57%.The firm had revenue of $83.23 million during the quarter, compared to the consensus estimate of $81.72 million. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. Equities research analysts anticipate that Ooma, Inc. will post 0.87 earnings per share for the current fiscal year.

Ooma Company Profile

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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