Ooma, Inc. $OOMA Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Ooma stake by 41.2% in the third quarter, selling 62,444 shares and retaining 89,108 shares valued at approximately $1.82 million. Institutional investors collectively own 80.42% of Ooma.
• Ooma insiders sold 86,861 shares worth about $2.01 million over the past 90 days, including sales by CEO Eric Stang and Chief Accounting Officer Namrata Sabharwal.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and a $25 price target. Ooma recently exceeded quarterly earnings and revenue estimates, reporting $0.35 EPS and $83.23 million in revenue.

Assenagon Asset Management S.A. reduced its stake in Ooma, Inc. (NYSE:OOMA - Free Report) by 41.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 89,108 shares of the technology company's stock after selling 62,444 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.32% of Ooma worth $1,820,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in shares of Ooma in the third quarter valued at approximately $26,000. Legal & General Group Plc bought a new stake in Ooma during the 2nd quarter valued at approximately $50,000. Meeder Asset Management Inc. grew its holdings in Ooma by 28.3% in the 1st quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company's stock valued at $49,000 after buying an additional 740 shares during the last quarter. Archer Investment Corp acquired a new stake in Ooma in the 1st quarter valued at approximately $96,000. Finally, Essential Partners LLC grew its holdings in Ooma by 8.3% in the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company's stock valued at $119,000 after buying an additional 626 shares during the last quarter. Institutional investors own 80.42% of the company's stock.

Insider Buying and Selling

In other news, CAO Namrata Sabharwal sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $22.16, for a total value of $33,240.00. Following the sale, the chief accounting officer directly owned 83,455 shares in the company, valued at approximately $1,849,362.80. This represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Eric Stang sold 10,361 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $22.75, for a total value of $235,712.75. Following the completion of the transaction, the chief executive officer directly owned 1,189,580 shares of the company's stock, valued at approximately $27,062,945. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 86,861 shares of company stock worth $2,005,037. Insiders own 9.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OOMA. Zacks Research upgraded Ooma from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Benchmark reissued a "buy" rating on shares of Ooma in a research report on Monday, August 17th. Lake Street Capital restated a "buy" rating and issued a $25.00 price objective on shares of Ooma in a research note on Thursday, August 27th. UBS Group reaffirmed a "buy" rating on shares of Ooma in a research report on Thursday, August 27th. Finally, Freedom Broker boosted their target price on shares of Ooma from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Ooma has a consensus rating of "Buy" and a consensus price target of $25.00.

Ooma Price Performance

Shares of OOMA stock opened at $19.90 on Thursday. The stock has a 50 day moving average of $21.40 and a two-hundred day moving average of $19.43. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Ooma, Inc. has a 12 month low of $9.79 and a 12 month high of $26.19. The company has a market capitalization of $549.16 million, a P/E ratio of 52.36 and a beta of 1.23.

Ooma (NYSE:OOMA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $83.23 million for the quarter, compared to analyst estimates of $81.72 million. Ooma had a return on equity of 23.55% and a net margin of 3.57%. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. As a group, equities analysts expect that Ooma, Inc. will post 0.87 EPS for the current year.

Ooma Profile

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related services to small and midsize businesses, enterprises, and consumers. Its business offerings are designed to replace or complement traditional business phone systems with internet-based communications delivered through software and connected devices.

Ooma's business products include Ooma Office, Ooma Pro, and Ooma Enterprise, which provide cloud-based phone systems, business texting, virtual extensions, conferencing, call management, and other unified communications features.

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