BlackRock Inc. Takes Position in Ooma, Inc. $OOMA

Key Points

• BlackRock acquired 3.59 million Ooma shares valued at approximately $69 million, giving it a 13.05% stake. Institutional investors collectively own 80.42% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $25 average price target.
• Ooma exceeded quarterly expectations, reporting adjusted earnings of $0.35 per share versus the $0.33 consensus and revenue of $83.23 million versus $81.72 million expected.

BlackRock Inc. purchased a new stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,590,063 shares of the technology company's stock, valued at approximately $69,001,000. BlackRock Inc. owned about 13.05% of Ooma at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OOMA. Amundi bought a new position in shares of Ooma in the first quarter worth approximately $387,000. AQR Capital Management LLC bought a new stake in Ooma during the first quarter worth about $478,000. Millennium Management LLC increased its stake in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock valued at $4,144,000 after purchasing an additional 142,220 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Ooma by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company's stock valued at $3,254,000 after buying an additional 11,300 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Ooma by 162.6% in the 1st quarter. Jane Street Group LLC now owns 34,227 shares of the technology company's stock worth $448,000 after purchasing an additional 21,192 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company's stock.

Analyst Ratings Changes

OOMA has been the topic of several research analyst reports. Citigroup restated a "market perform" rating on shares of Ooma in a research note on Wednesday, May 27th. William Blair set a $24.00 target price on Ooma in a research report on Monday, August 17th. Lake Street Capital restated a "buy" rating and set a $25.00 target price on shares of Ooma in a research note on Thursday. Benchmark reaffirmed a "buy" rating on shares of Ooma in a report on Monday, August 17th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Ooma in a research report on Thursday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Insider Activity

In other news, CEO Eric B. Stang sold 23,212 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $20.00, for a total transaction of $464,240.00. Following the transaction, the chief executive officer directly owned 795,506 shares in the company, valued at $15,910,120. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jenny C. Yeh sold 1,757 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $22.00, for a total transaction of $38,654.00. Following the completion of the sale, the senior vice president directly owned 258,615 shares of the company's stock, valued at approximately $5,689,530. This trade represents a 0.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 118,652 shares of company stock worth $2,225,186. 9.90% of the stock is currently owned by corporate insiders.

Ooma Stock Down 0.0%

Ooma stock opened at $22.90 on Monday. The business has a fifty day moving average of $20.44 and a two-hundred day moving average of $17.21. The company has a quick ratio of 0.69, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. Ooma, Inc. has a twelve month low of $9.79 and a twelve month high of $26.19. The firm has a market cap of $629.75 million, a P/E ratio of 60.26 and a beta of 1.19.

Ooma (NYSE:OOMA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The firm had revenue of $83.23 million during the quarter, compared to analysts' expectations of $81.72 million. Ooma had a return on equity of 23.89% and a net margin of 3.57%.Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. On average, analysts forecast that Ooma, Inc. will post 0.86 earnings per share for the current fiscal 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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