Insider Selling: Ooma (NYSE:OOMA) CEO Sells 23,212 Shares of Stock

Key Points

• Ooma CEO Eric Stang sold 23,212 shares on July 10 at an average price of $20.00, totaling about $464,240. After the sale, he still held 795,506 shares, and the transaction reduced his ownership by 2.84%.
• Ooma’s stock rose 1.1% in midday trading to $20.41, near its 52-week high of $21.96. The company’s market cap stands at about $561 million.
• Recent results and analyst sentiment were constructive: Ooma beat quarterly EPS and revenue estimates, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $22.33.

Ooma, Inc. (NYSE:OOMA - Get Free Report) CEO Eric Stang sold 23,212 shares of the company's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $20.00, for a total transaction of $464,240.00. Following the transaction, the chief executive officer owned 795,506 shares in the company, valued at approximately $15,910,120. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ooma Trading Up 1.1%

Shares of NYSE OOMA traded up $0.23 during mid-day trading on Monday, hitting $20.41. The company's stock had a trading volume of 377,963 shares, compared to its average volume of 272,644. Ooma, Inc. has a one year low of $9.79 and a one year high of $21.96. The company's fifty day simple moving average is $18.38 and its 200-day simple moving average is $14.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.94 and a quick ratio of 0.69. The stock has a market cap of $561.33 million, a price-to-earnings ratio of 63.79 and a beta of 1.20.

Ooma (NYSE:OOMA - Get Free Report) last posted its quarterly earnings results 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. Ooma had a net margin of 3.17% and a return on equity of 20.21%. The business had revenue of $81.15 million during the quarter, compared to the consensus estimate of $79.84 million. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. On average, sell-side analysts anticipate that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OOMA has been the topic of a number of analyst reports. B. Riley Financial reissued a "buy" rating on shares of Ooma in a research note on Monday, May 18th. UBS Group set a $24.00 price objective on Ooma in a report on Wednesday, May 27th. Lake Street Capital increased their target price on Ooma from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Citigroup reissued a "market perform" rating on shares of Ooma in a research note on Wednesday, May 27th. Finally, Alliance Global Partners restated a "buy" rating on shares of Ooma in a research report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.33.

Institutional Investors Weigh In On Ooma

Several large investors have recently bought and sold shares of OOMA. Vanguard Group Inc. boosted its position in shares of Ooma by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,501,963 shares of the technology company's stock worth $18,009,000 after purchasing an additional 34,960 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Ooma by 12.2% in the 1st quarter. Renaissance Technologies LLC now owns 912,203 shares of the technology company's stock valued at $13,273,000 after buying an additional 99,100 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Ooma by 4.0% in the 4th quarter. JPMorgan Chase & Co. now owns 576,041 shares of the technology company's stock valued at $6,757,000 after buying an additional 22,125 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Ooma by 17.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 513,820 shares of the technology company's stock worth $6,161,000 after buying an additional 76,088 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in Ooma during the 1st quarter worth $5,847,000. Institutional investors own 80.42% of the company's stock.

About Ooma

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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