Eric Stang Sells 10,361 Shares of Ooma (NYSE:OOMA) Stock

Key Points

• CEO Eric Stang sold 10,361 Ooma shares at an average price of $22.75, generating approximately $235,713. He retains 1,189,580 shares, with the sale reducing his ownership by 0.86%.
• Ooma shares rose 0.1% to $22.79, while the company’s latest quarterly results exceeded expectations, reporting $0.35 in EPS versus the $0.33 consensus and revenue of $83.23 million versus $81.72 million expected.
• Wall Street maintains a positive outlook, with five analysts rating Ooma a Buy and one a Hold. The stock has an average price target of $25.00, and institutional investors own 80.42% of its shares.

Ooma, Inc. (NYSE:OOMA - Get Free Report) CEO Eric Stang sold 10,361 shares of the firm's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $22.75, for a total transaction of $235,712.75. Following the completion of the sale, the chief executive officer owned 1,189,580 shares of the company's stock, valued at $27,062,945. This trade represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Ooma Stock Up 0.1%

Shares of OOMA stock traded up $0.02 during midday trading on Monday, reaching $22.79. 433,523 shares of the stock were exchanged, compared to its average volume of 311,439. Ooma, Inc. has a 1 year low of $9.79 and a 1 year high of $26.19. The company's 50 day moving average is $21.26 and its two-hundred day moving average is $18.00. The company has a current ratio of 0.95, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The firm has a market cap of $628.95 million, a PE ratio of 59.97 and a beta of 1.20.

Ooma (NYSE:OOMA - Get Free Report) last released its earnings results on Wednesday, August 26th. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. Ooma had a return on equity of 23.55% and a net margin of 3.57%.The company had revenue of $83.23 million during the quarter, compared to analysts' expectations of $81.72 million. Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. On average, equities research analysts predict that Ooma, Inc. will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Ooma

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Ooma during the 2nd quarter valued at $50,000. Meeder Asset Management Inc. raised its stake in shares of Ooma by 28.3% in the first quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company's stock worth $49,000 after purchasing an additional 740 shares during the last quarter. Archer Investment Corp bought a new position in Ooma during the 1st quarter valued at about $96,000. California State Teachers Retirement System boosted its holdings in shares of Ooma by 395.6% during the 2nd quarter. California State Teachers Retirement System now owns 6,804 shares of the technology company's stock valued at $131,000 after acquiring an additional 5,431 shares during the last quarter. Finally, Essential Partners LLC boosted its holdings in shares of Ooma by 8.3% during the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company's stock valued at $119,000 after acquiring an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OOMA. William Blair set a $24.00 price target on shares of Ooma in a research note on Monday, August 17th. Benchmark reiterated a "buy" rating on shares of Ooma in a report on Monday, August 17th. B. Riley Financial upped their price target on Ooma from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Lake Street Capital reiterated a "buy" rating and set a $25.00 price objective on shares of Ooma in a research note on Thursday, August 27th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Ooma in a report on Thursday, August 27th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.00.

Ooma Company Profile

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related technology services to small and midsized businesses, enterprises, and residential customers. Its services are delivered primarily through internet-based platforms designed to help customers manage communications without relying on traditional on-premises phone systems.

For businesses, Ooma offers cloud phone and unified communications solutions under brands and product lines that include Ooma Office, Ooma Pro, Ooma Enterprise, and Ooma AirDial.

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