Ooma, Inc. (NYSE:OOMA) CAO Namrata Sabharwal Sells 4,852 Shares

Ooma, Inc. (NYSE:OOMA - Get Free Report) CAO Namrata Sabharwal sold 4,852 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $13.28, for a total value of $64,434.56. Following the sale, the chief accounting officer now owns 76,079 shares of the company's stock, valued at approximately $1,010,329.12. This trade represents a 6.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 3rd, Namrata Sabharwal sold 3,428 shares of Ooma stock. The shares were sold at an average price of $13.46, for a total value of $46,140.88.

Ooma Stock Performance

Ooma stock traded up $0.03 during mid-day trading on Monday, reaching $13.27. The company's stock had a trading volume of 100,989 shares, compared to its average volume of 123,748. The firm has a market cap of $365.84 million, a price-to-earnings ratio of -35.87 and a beta of 1.22. Ooma, Inc. has a twelve month low of $7.83 and a twelve month high of $17.00. The business has a 50 day moving average price of $12.72 and a 200-day moving average price of $13.76. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

OOMA has been the subject of several recent analyst reports. Lake Street Capital decreased their price objective on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Benchmark lifted 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. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ooma presently has an average rating of "Buy" and an average target price of $17.63.

Institutional Trading of Ooma

A number of institutional investors and hedge funds have recently made changes to their positions in OOMA. Vanguard Group Inc. boosted its position in Ooma by 3.6% during the 1st 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 during the period. Acadian Asset Management LLC boosted its holdings in shares of 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 boosted its holdings in shares of Ooma by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company's stock valued at $11,615,000 after acquiring an additional 3,200 shares during the period. Geode Capital Management LLC grew its position in shares of Ooma by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company's stock worth $7,794,000 after acquiring an additional 7,693 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Ooma by 81.6% in the 1st quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock worth $4,144,000 after acquiring an additional 142,220 shares during the period. 80.42% of the stock is currently owned by institutional investors and hedge funds.

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.