Ooma, Inc. (NYSE:OOMA) Receives $17.63 Average PT from Brokerages

Key Points

• Ooma, Inc. has received a consensus rating of "Moderate Buy" from five brokerages, with one hold rating and four buy ratings. The average target price is set at $17.63.
• Recent insider transactions include CFO Shigeyuki Hamamatsu selling 10,704 shares and CEO Eric B. Stang selling 10,727 shares, indicating a decrease in their ownership stakes.
• Institutional investors significantly increased their holdings in Ooma, with Acadian Asset Management boosting its stake by 39.8% in the first quarter alone.

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.6250.

A number of brokerages have issued reports on OOMA. JMP Securities reaffirmed a "market perform" rating on shares of Ooma in a research report on Wednesday. Benchmark restated a "buy" rating and issued a $20.00 target price on shares of Ooma in a research note on Monday, August 25th.

Ooma Stock Performance

Shares of NYSE:OOMA traded down $0.00 during mid-day trading on Monday, hitting $12.95. 164,906 shares of the company traded hands, compared to its average volume of 157,395. The firm's 50 day simple moving average is $12.10 and its 200 day simple moving average is $12.83. The firm has a market cap of $357.34 million, a P/E ratio of -184.93 and a beta of 1.21. Ooma has a 52-week low of $9.84 and a 52-week high of $17.00.

Insider Transactions at Ooma

In other news, CEO Eric B. Stang sold 10,727 shares of Ooma stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $12.98, for a total value of $139,236.46. Following the completion of the transaction, the chief executive officer owned 1,236,997 shares in the company, valued at approximately $16,056,221.06. This trade represents a 0.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shigeyuki Hamamatsu sold 10,704 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 207,909 shares in the company, valued at $2,767,268.79. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,609 shares of company stock worth $666,657. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in Ooma during the 4th quarter valued at $186,000. Deutsche Bank AG raised its stake in shares of Ooma by 95.4% during the fourth quarter. Deutsche Bank AG now owns 26,182 shares of the technology company's stock valued at $368,000 after purchasing an additional 12,780 shares in the last quarter. Northern Trust Corp raised its stake in shares of Ooma by 5.4% during the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock valued at $3,031,000 after purchasing an additional 11,107 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Ooma by 138.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 75,456 shares of the technology company's stock worth $1,061,000 after purchasing an additional 43,776 shares during the period. Finally, Barclays PLC grew its position in Ooma by 0.9% in the 4th quarter. Barclays PLC now owns 99,891 shares of the technology company's stock valued at $1,405,000 after buying an additional 927 shares in the last quarter. Institutional investors own 80.42% of the company's stock.

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.