Russell Investments Group Ltd. Has $2.83 Million Stock Holdings 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. decreased its holdings in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 33.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,735 shares of the technology company's stock after selling 108,822 shares during the period. Russell Investments Group Ltd. owned about 0.79% of Ooma worth $2,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. bought a new position in Ooma during the first quarter worth about $161,000. Oxford Asset Management LLP bought a new position in Ooma during the fourth quarter worth about $168,000. Squarepoint Ops LLC bought a new position in Ooma during the fourth quarter worth about $186,000. Wells Fargo & Company MN raised its stake in shares of Ooma by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock valued at $215,000 after acquiring an additional 3,466 shares during the last quarter. Finally, Bailard Inc. raised its stake in shares of Ooma by 36.0% in the first quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock valued at $215,000 after acquiring an additional 4,335 shares during the last quarter. Institutional investors own 80.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $20.00 price target on shares of Ooma in a report on Monday. JMP Securities reissued a "market perform" rating on shares of Ooma in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Ooma currently has a consensus rating of "Moderate Buy" and an average target price of $17.63.

Ooma Stock Down 0.4%

OOMA stock traded down $0.05 during trading on Friday, hitting $12.90. The company had a trading volume of 57,157 shares, compared to its average volume of 142,106. The firm has a 50-day moving average price of $12.09 and a 200-day moving average price of $12.84. Ooma, Inc. has a 12 month low of $9.84 and a 12 month high of $17.00. The stock has a market cap of $356.04 million, a price-to-earnings ratio of -184.76 and a beta of 1.21.

Insider Buying and Selling at Ooma

In other news, CAO Namrata Sabharwal sold 9,491 shares of the business'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 transaction, the chief accounting officer owned 65,935 shares of the company's stock, valued at $834,737.10. The trade was a 12.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric B. Stang sold 10,727 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $12.98, for a total transaction of $139,236.46. Following the completion of the transaction, the chief executive officer directly 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 sold a total of 51,609 shares of company stock worth $666,657 over the last quarter. 9.90% of the stock is currently owned by 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.