Ooma, Inc. (NYSE:OOMA) CAO Sells $120,156.06 in Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) CAO Namrata Sabharwal sold 9,491 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $12.66, for a total value of $120,156.06. Following the sale, the chief accounting officer now owns 65,935 shares of the company's stock, valued at approximately $834,737.10. The trade was a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $64,434.56.
• On Tuesday, June 3rd, Namrata Sabharwal sold 3,428 shares of Ooma stock. The stock was sold at an average price of $13.46, for a total transaction of $46,140.88.

Ooma Price Performance

Shares of NYSE:OOMA traded down $0.47 during midday trading on Friday, reaching $12.23. 118,013 shares of the company's stock were exchanged, compared to its average volume of 124,695. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The company's 50 day simple moving average is $12.76 and its two-hundred day simple moving average is $13.71. Ooma, Inc. has a 12 month low of $7.83 and a 12 month high of $17.00. The firm has a market capitalization of $337.07 million, a PE ratio of -33.05 and a beta of 1.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OOMA. Vanguard Group Inc. boosted its holdings in Ooma by 3.6% during 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 lifted its position in shares of Ooma by 39.8% during the 1st quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company's stock worth $12,344,000 after buying an additional 268,636 shares during the period. Renaissance Technologies LLC boosted its stake in Ooma by 0.4% in the 4th quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company's stock valued at $11,615,000 after buying an additional 3,200 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 buying an additional 7,693 shares in the last quarter. Finally, Millennium Management LLC grew its position in Ooma by 81.6% in the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company's stock valued at $4,144,000 after acquiring an additional 142,220 shares during the period. Institutional investors and hedge funds own 80.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OOMA. Benchmark increased their target price on shares of Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Lake Street Capital cut their price target on Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.63.

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.