Ooma, Inc. $OOMA Stake Reduced by Trigran Investments Inc.

Key Points

• Trigran Investments Inc. reduced its stake in Ooma, Inc. by 5.3% during the first quarter, now owning approximately 11.98% of the company's shares.
• Ooma's shares have seen a 52-week high of $17.00 and a low of $8.23, with the current stock price at $11.57.
• Insider trading activity includes sales by the Director and CFO, reflecting a 4.89% and 4.90% decrease in their respective ownership positions.

Trigran Investments Inc. cut its position in Ooma, Inc. (NYSE:OOMA - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,302,007 shares of the technology company's stock after selling 185,270 shares during the quarter. Ooma makes up approximately 6.4% of Trigran Investments Inc.'s investment portfolio, making the stock its 9th largest holding. Trigran Investments Inc. owned about 11.98% of Ooma worth $43,223,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Ooma in the 4th quarter worth approximately $186,000. Deutsche Bank AG boosted its stake in Ooma by 95.4% in the fourth quarter. Deutsche Bank AG now owns 26,182 shares of the technology company's stock valued at $368,000 after acquiring an additional 12,780 shares in the last quarter. Northern Trust Corp grew its holdings in Ooma by 5.4% in the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock worth $3,031,000 after purchasing an additional 11,107 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Ooma by 138.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 75,456 shares of the technology company's stock worth $1,061,000 after purchasing an additional 43,776 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Ooma by 0.9% during the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company's stock worth $1,405,000 after purchasing an additional 927 shares in the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Trading Down 0.2%

Shares of OOMA traded down $0.02 during midday trading on Wednesday, hitting $11.49. 91,401 shares of the company's stock traded hands, compared to its average volume of 137,831. The stock has a market capitalization of $317.12 million, a price-to-earnings ratio of -60.47 and a beta of 1.21. Ooma, Inc. has a 1 year low of $8.25 and a 1 year high of $17.00. The firm's fifty day moving average is $12.12 and its 200-day moving average is $12.95.

Insiders Place Their Bets

In other Ooma news, CEO Eric B. Stang sold 10,727 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $12.98, for a total value of $139,236.46. Following the completion of the sale, the chief executive officer owned 1,236,997 shares of the company's stock, valued at approximately $16,056,221.06. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Namrata Sabharwal sold 9,491 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $12.66, for a total value of $120,156.06. Following the sale, the chief accounting officer owned 65,935 shares in the company, valued at $834,737.10. The trade was a 12.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,609 shares of company stock valued at $666,657. 9.90% of the stock is owned by corporate insiders.

Ooma Company 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.