Ooma, Inc. (NYSE:OOMA) Receives Consensus Rating of "Moderate Buy" from Analysts

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 earned an average recommendation of "Moderate Buy" from the five brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.6250.

Separately, Benchmark reissued a "buy" rating and set a $20.00 target price on shares of Ooma in a research note on Monday.

Insider Buying and Selling

In other news, CFO Shigeyuki Hamamatsu sold 10,704 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $13.31, for a total transaction of $142,470.24. Following the transaction, the chief financial officer owned 207,909 shares of the company's stock, valued at approximately $2,767,268.79. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric B. Stang sold 10,727 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 1,236,997 shares of the company's stock, valued at $16,056,221.06. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,609 shares of company stock worth $666,657. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake in shares of Ooma by 39.8% in the first quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company's stock worth $12,344,000 after acquiring an additional 268,636 shares during the last quarter. Nuveen LLC acquired a new position in Ooma during the 1st quarter worth about $3,465,000. Millennium Management LLC grew its holdings in shares of 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 purchasing an additional 142,220 shares in the last quarter. Marshall Wace LLP raised its position in Ooma by 188.3% in the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company's stock valued at $2,061,000 after purchasing an additional 95,765 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Ooma by 172.9% in the 1st quarter. Mackenzie Financial Corp now owns 128,555 shares of the technology company's stock valued at $1,683,000 after purchasing an additional 81,446 shares in the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Ooma Stock Performance

Shares of NYSE:OOMA traded down $0.03 during midday trading on Monday, reaching $12.01. 31,578 shares of the company's stock traded hands, compared to its average volume of 137,126. Ooma has a one year low of $8.69 and a one year high of $17.00. The company has a market cap of $331.48 million, a price-to-earnings ratio of -63.21 and a beta of 1.21. The stock has a 50 day moving average of $12.07 and a 200 day moving average of $12.87.

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.

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