Ooma, Inc. (NYSE:OOMA) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in Ooma, Inc. by 172.9% in Q1, owning around 128,555 shares valued at approximately $1.68 million.
• CEO Eric B. Stang and Director Andrew H. Galligan both sold shares recently, with the CEO reducing ownership by 0.86% and the director by 4.89%.
• Ooma's stock is currently trading at $11.05, having experienced a 2.9% decline, with a market capitalization of $304.98 million.

Mackenzie Financial Corp grew its position in Ooma, Inc. (NYSE:OOMA - Free Report) by 172.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,555 shares of the technology company's stock after buying an additional 81,446 shares during the quarter. Mackenzie Financial Corp owned 0.47% of Ooma worth $1,683,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its stake in shares of Ooma by 101.0% during the 4th quarter. Sei Investments Co. now owns 36,378 shares of the technology company's stock worth $511,000 after purchasing an additional 18,275 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock worth $18,822,000 after purchasing an additional 71,247 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Ooma during the 4th quarter worth $363,000. Norges Bank purchased a new stake in shares of Ooma during the 4th quarter worth $1,067,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Ooma by 284.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company's stock worth $3,557,000 after purchasing an additional 187,245 shares during the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Shigeyuki Hamamatsu sold 10,704 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $13.31, for a total transaction of $142,470.24. Following the transaction, the chief financial officer directly owned 207,909 shares of the company's stock, valued at $2,767,268.79. This represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Namrata Sabharwal sold 9,491 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $12.66, for a total value of $120,156.06. Following the transaction, the chief accounting officer directly owned 65,935 shares in the company, valued at $834,737.10. This represents a 12.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,609 shares of company stock valued at $666,657. Company insiders own 9.90% of the company's stock.

Ooma Stock Down 0.9%

Shares of NYSE OOMA traded down $0.10 during mid-day trading on Tuesday, reaching $11.27. 83,895 shares of the company were exchanged, compared to its average volume of 161,703. The stock has a market cap of $311.05 million, a price-to-earnings ratio of -59.32 and a beta of 1.21. Ooma, Inc. has a 1 year low of $7.83 and a 1 year high of $17.00. The firm has a 50-day moving average of $12.54 and a 200 day moving average of $13.17.

Ooma Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.