Insider Selling: Ooma, Inc. (NYSE:OOMA) CFO Sells 10,704 Shares of Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) CFO Shigeyuki Hamamatsu sold 10,704 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $13.31, for a total value of $142,470.24. Following the sale, the chief financial officer now owns 207,909 shares in the company, valued at approximately $2,767,268.79. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ooma Trading Down 1.5%

NYSE:OOMA traded down $0.20 on Wednesday, hitting $12.73. 127,316 shares of the stock were exchanged, compared to its average volume of 124,322. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma, Inc. has a 52 week low of $7.83 and a 52 week high of $17.00. The stock has a market capitalization of $350.93 million, a price-to-earnings ratio of -34.41 and a beta of 1.22. The company's 50-day moving average price is $12.74 and its 200 day moving average price is $13.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in Ooma during the fourth quarter worth about $92,000. EntryPoint Capital LLC bought a new position in Ooma during the 4th quarter worth approximately $153,000. Invesco Ltd. bought a new position in Ooma during the 1st quarter worth approximately $161,000. Oxford Asset Management LLP acquired a new position in Ooma during the fourth quarter valued at approximately $168,000. Finally, Squarepoint Ops LLC bought a new stake in Ooma in the fourth quarter valued at approximately $186,000. 80.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Lake Street Capital decreased their price objective on shares of Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Benchmark increased their price target 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.63.

About Ooma

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.