Ooma, Inc. (NYSE:OOMA) CAO Sells $46,140.88 in Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) CAO Namrata Sabharwal sold 3,428 shares of Ooma stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $13.46, for a total transaction of $46,140.88. Following the completion of the transaction, the chief accounting officer now owns 80,931 shares in the company, valued at approximately $1,089,331.26. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Namrata Sabharwal also recently made the following trade(s):

• On Wednesday, June 4th, Namrata Sabharwal sold 4,852 shares of Ooma stock. The shares were sold at an average price of $13.28, for a total value of $64,434.56.

Ooma Stock Performance

Shares of OOMA stock traded up $0.07 during trading hours on Friday, reaching $13.25. 138,136 shares of the company's stock were exchanged, compared to its average volume of 123,839. The company's 50 day moving average is $12.72 and its two-hundred day moving average is $13.77. Ooma, Inc. has a 1 year low of $7.83 and a 1 year high of $17.00. The company has a market cap of $365.29 million, a P/E ratio of -35.82 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OOMA. Benchmark upped their price target on Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Lake Street Capital cut their price objective on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ooma has an average rating of "Buy" and a consensus price target of $17.63.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Ooma by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company's stock valued at $18,158,000 after purchasing an additional 48,459 shares in the last quarter. Acadian Asset Management LLC grew its position in Ooma by 39.8% during the first quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company's stock valued at $12,344,000 after acquiring an additional 268,636 shares during the period. Renaissance Technologies LLC increased its position in Ooma by 0.4% during the 4th quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company's stock worth $11,615,000 after purchasing an additional 3,200 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Ooma by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company's stock valued at $7,794,000 after acquiring an additional 7,693 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock worth $4,144,000 after purchasing an additional 142,220 shares in the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Company Profile

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.