Russell Investments Group Ltd. Cuts Position in Ooma, Inc. $OOMA

Key Points

• Russell Investments Group Ltd. reduced its stake in Ooma, Inc. by 33.4%, selling 108,822 shares to hold 216,735 shares worth approximately $2.83 million.
• Insider transactions included CFO Shigeyuki Hamamatsu selling 10,704 shares for about $142,470, while Director Andrew H. Galligan sold 12,407 shares totaling around $154,219.
• Ooma's current stock price is $12.05, with a market cap of $332.58 million and a price-to-earnings ratio of -63.42, indicating potential profitability concerns.

Russell Investments Group Ltd. cut its position in Ooma, Inc. (NYSE:OOMA - Free Report) by 33.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,735 shares of the technology company's stock after selling 108,822 shares during the period. Russell Investments Group Ltd. owned 0.79% of Ooma worth $2,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Oxford Asset Management LLP purchased a new stake in shares of Ooma in the 4th quarter valued at approximately $168,000. Invesco Ltd. purchased a new stake in shares of Ooma in the 1st quarter valued at approximately $161,000. Squarepoint Ops LLC purchased a new stake in shares of Ooma in the 4th quarter valued at approximately $186,000. Wells Fargo & Company MN increased its position in shares of Ooma by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock valued at $215,000 after purchasing an additional 3,466 shares during the last quarter. Finally, Bailard Inc. increased its position in shares of Ooma by 36.0% in the 1st quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock valued at $215,000 after purchasing an additional 4,335 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Stock Down 0.0%

NYSE:OOMA traded down $0.00 during trading hours on Friday, reaching $12.95. 164,906 shares of the company's stock were exchanged, compared to its average volume of 157,395. The firm has a market capitalization of $357.34 million, a price-to-earnings ratio of -184.93 and a beta of 1.21. The company has a 50-day moving average of $12.10 and a 200 day moving average of $12.81. Ooma, Inc. has a 1-year low of $9.84 and a 1-year high of $17.00.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Benchmark restated a "buy" rating and issued a $20.00 target price on shares of Ooma in a report on Monday, August 25th. JMP Securities restated a "market perform" rating on shares of Ooma in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.63.

Insider Buying and Selling at Ooma

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

About Ooma

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.