Trigran Investments Inc. Sells 281,151 Shares of Ooma, Inc. $OOMA

Key Points

• Trigran Investments cut its Ooma stake by 12.6% in the fourth quarter, selling 281,151 shares and leaving it with 1,948,061 shares, or about 7.06% of the company.
• Several analysts remain constructive on Ooma, with four Buy ratings and two Hold ratings; MarketBeat shows an average rating of Moderate Buy and a $22.33 price target.
• Ooma reported better-than-expected quarterly results, posting $0.35 EPS versus $0.32 expected and revenue of $81.15 million, while insiders also reduced holdings through recent sales by the CFO and a director.

Trigran Investments Inc. decreased its holdings in Ooma, Inc. (NYSE:OOMA - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,948,061 shares of the technology company's stock after selling 281,151 shares during the period. Ooma accounts for approximately 4.5% of Trigran Investments Inc.'s holdings, making the stock its 13th biggest holding. Trigran Investments Inc. owned 7.06% of Ooma worth $22,851,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFC & Insurance Marketing Inc. bought a new position in shares of Ooma in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC lifted its holdings in shares of Ooma by 225.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company's stock valued at $47,000 after acquiring an additional 2,507 shares during the last quarter. CWM LLC lifted its holdings in shares of Ooma by 45.6% in the 4th quarter. CWM LLC now owns 4,400 shares of the technology company's stock valued at $52,000 after acquiring an additional 1,378 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Ooma by 503.1% in the 2nd quarter. Lazard Asset Management LLC now owns 4,927 shares of the technology company's stock valued at $63,000 after acquiring an additional 4,110 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Ooma in the 3rd quarter valued at about $77,000. Institutional investors own 80.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on OOMA shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Ooma in a report on Wednesday, May 27th. Benchmark reaffirmed a "buy" rating on shares of Ooma in a report on Thursday, March 5th. Citigroup reissued a "market perform" rating on shares of Ooma in a research report on Wednesday, May 27th. UBS Group set a $24.00 price objective on shares of Ooma in a research report on Wednesday, May 27th. Finally, Lake Street Capital increased their price objective on shares of Ooma from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Ooma presently has an average rating of "Moderate Buy" and an average price target of $22.33.

Insider Buying and Selling

In other news, Director William D. Pearce sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.98, for a total transaction of $53,940.00. Following the transaction, the director directly owned 181,652 shares of the company's stock, valued at approximately $3,266,102.96. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shigeyuki Hamamatsu sold 27,696 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.64, for a total transaction of $488,557.44. Following the transaction, the chief financial officer directly owned 193,283 shares in the company, valued at approximately $3,409,512.12. This trade represents a 12.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 9.90% of the company's stock.

Ooma Stock Performance

Ooma stock opened at $17.57 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.69. Ooma, Inc. has a 1-year low of $9.79 and a 1-year high of $21.96. The firm has a market capitalization of $483.04 million, a P/E ratio of 54.89 and a beta of 1.22. The company's 50-day moving average is $16.99 and its 200 day moving average is $13.91.

Ooma (NYSE:OOMA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The company had revenue of $81.15 million for the quarter, compared to analyst estimates of $79.84 million. Ooma had a net margin of 3.17% and a return on equity of 20.21%. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. Research analysts forecast that Ooma, Inc. will post 0.8 EPS for the current year.

Ooma Company Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.

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