Strs Ohio Acquires Shares of 25,400 Ooma, Inc. $OOMA

Key Points

• Strs Ohio has acquired 25,400 shares of Ooma, Inc. ($OOMA), representing a new position valued at approximately $332,000.
• Ooma's stock has faced a decline of 3.0%, with a recent trading price of $12.74 and a market cap of $351.68 million.
• An average price target of $17.63 has been set for Ooma shares by analysts, with Benchmark restating a "buy" rating at $20.00.

Strs Ohio bought a new position in Ooma, Inc. (NYSE:OOMA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,400 shares of the technology company's stock, valued at approximately $332,000. Strs Ohio owned about 0.09% of Ooma as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. purchased a new position in Ooma in the 1st quarter worth approximately $161,000. Squarepoint Ops LLC purchased a new position in shares of Ooma in the fourth quarter worth $186,000. 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 worth $215,000 after purchasing an additional 4,335 shares during the last quarter. State of Wyoming bought a new position in shares of Ooma during the first quarter valued at $310,000. Finally, Deutsche Bank AG boosted its position in shares of Ooma by 95.4% during the fourth quarter. Deutsche Bank AG now owns 26,182 shares of the technology company's stock valued at $368,000 after buying an additional 12,780 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company's stock.

Ooma Trading Down 3.0%

Shares of OOMA stock opened at $12.74 on Wednesday. Ooma, Inc. has a 12 month low of $10.93 and a 12 month high of $17.00. The stock has a market cap of $351.68 million, a P/E ratio of -182.00 and a beta of 1.30. The company has a 50 day simple moving average of $12.15 and a two-hundred day simple moving average of $12.60.

Analysts Set New Price Targets

OOMA has been the topic of several research analyst reports. Benchmark restated a "buy" rating and set a $20.00 target price on shares of Ooma in a research note on Monday, August 25th. JMP Securities restated a "market perform" rating on shares of Ooma in a research report on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.63.

Insider Buying and Selling at Ooma

In related news, CEO Eric B. Stang sold 19,265 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the completion of the transaction, the chief executive officer directly owned 688,729 shares in the company, valued at approximately $8,850,167.65. The trade was a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shigeyuki Hamamatsu sold 7,335 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $12.89, for a total transaction of $94,548.15. Following the sale, the chief financial officer owned 191,972 shares in the company, valued at approximately $2,474,519.08. The trade was a 3.68% decrease in their position. The disclosure for this sale can be found here. 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.

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