Ooma (NYSE:OOMA) Shares Cross Below 50-Day Moving Average - Here's What Happened

Key Points

• Ooma's shares have fallen below their 50-day moving average, hitting a low of $11.16 before last trading at $11.26.
• Analysts have a consensus rating of "Moderate Buy" for Ooma, with an average price target of $17.63, while Benchmark set a price target of $20.00.
• Recent insider transactions include CFO Shigeyuki Hamamatsu selling 7,335 shares, and CEO Eric B. Stang selling 19,265 shares, reflecting decreases in their positions.

Shares of Ooma, Inc. (NYSE:OOMA - Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $12.13 and traded as low as $11.16. Ooma shares last traded at $11.26, with a volume of 91,016 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OOMA shares. Benchmark reaffirmed a "buy" rating and set a $20.00 price target on shares of Ooma in a research note on Monday, August 25th. JMP Securities reiterated a "market perform" rating on shares of Ooma in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $17.63.

Ooma Stock Up 0.1%

The company has a 50 day simple moving average of $12.13 and a 200-day simple moving average of $12.48. The stock has a market cap of $310.78 million, a price-to-earnings ratio of -160.83 and a beta of 1.28.

Insider Transactions at Ooma

In other news, CFO Shigeyuki Hamamatsu sold 7,335 shares of Ooma stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $12.89, for a total value of $94,548.15. Following the completion of the transaction, the chief financial officer directly owned 191,972 shares of the company's stock, valued at approximately $2,474,519.08. The trade was a 3.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric B. Stang sold 19,265 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the sale, the chief executive officer owned 688,729 shares in the company, valued at approximately $8,850,167.65. This trade represents a 2.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Ooma

Hedge funds have recently added to or reduced their stakes in the stock. 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. Voya Investment Management LLC lifted its position in Ooma by 42.6% in the 1st quarter. Voya Investment Management LLC now owns 40,789 shares of the technology company's stock valued at $534,000 after purchasing an additional 12,185 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Ooma by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company's stock valued at $3,254,000 after purchasing an additional 11,300 shares during the period. Trexquant Investment LP grew its position in Ooma by 53.9% in the 1st quarter. Trexquant Investment LP now owns 151,065 shares of the technology company's stock worth $1,977,000 after purchasing an additional 52,932 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ooma by 3.6% in 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 during the period. 80.42% of the stock is currently owned by institutional investors.

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.

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