Hillsdale Investment Management Inc. Purchases New Position in Ooma, Inc. $OOMA

Key Points

• Hillsdale Investment Management initiated a new position in Ooma during the first quarter, buying 401,889 shares worth about $5.85 million and representing roughly 1.46% of the company.
• Ooma reported stronger-than-expected quarterly results, with EPS of $0.35 versus estimates of $0.32 and revenue of $81.15 million, also topping analyst forecasts.
• Analysts are generally positive on the stock, with a Moderate Buy consensus and a target price of $22.33; however, insiders have recently sold shares, including SVP Jenny C. Yeh and Director Russell Mann.

Hillsdale Investment Management Inc. purchased a new stake in Ooma, Inc. (NYSE:OOMA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 401,889 shares of the technology company's stock, valued at approximately $5,847,000. Hillsdale Investment Management Inc. owned approximately 1.46% of Ooma as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. IFC & Insurance Marketing Inc. acquired a new stake in shares of Ooma during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ooma by 225.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company's stock worth $47,000 after acquiring an additional 2,507 shares in the last quarter. CWM LLC grew its position in Ooma by 45.6% during the 4th quarter. CWM LLC now owns 4,400 shares of the technology company's stock worth $52,000 after acquiring an additional 1,378 shares during the last quarter. Royal Bank of Canada grew its position in 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 acquiring an additional 867 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in Ooma during the 4th quarter valued at $59,000. 80.42% of the stock is owned by institutional investors.

Ooma Trading Up 0.5%

OOMA opened at $20.52 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.69. The company has a market cap of $564.36 million, a price-to-earnings ratio of 64.13 and a beta of 1.20. The firm has a 50 day simple moving average of $18.50 and a 200 day simple moving average of $15.04. Ooma, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $21.96.

Ooma (NYSE:OOMA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Ooma had a net margin of 3.17% and a return on equity of 20.21%. The firm had revenue of $81.15 million for the quarter, compared to analysts' expectations of $79.84 million. 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, sell-side analysts anticipate that Ooma, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OOMA shares. UBS Group set a $24.00 price objective on Ooma in a research report on Wednesday, May 27th. Lake Street Capital increased their target price on Ooma from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, May 27th. Citigroup restated a "market perform" rating on shares of Ooma in a research note on Wednesday, May 27th. B. Riley Financial reaffirmed a "buy" rating on shares of Ooma in a report on Monday, May 18th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Ooma in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Insider Buying and Selling

In other news, SVP Jenny C. Yeh sold 12,840 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $19.57, for a total value of $251,278.80. Following the transaction, the senior vice president directly owned 264,615 shares in the company, valued at $5,178,515.55. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Russell Mann sold 20,000 shares of Ooma stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $18.35, for a total value of $367,000.00. Following the sale, the director directly owned 116,115 shares of the company's stock, valued at approximately $2,130,710.25. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,895 shares of company stock worth $2,186,532 over the last 90 days. 9.90% of the stock is currently owned by corporate insiders.

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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