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

Ooma, Inc. (NYSE:OOMA - Get Free Report) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.97 and traded as low as $11.91. Ooma shares last traded at $11.96, with a volume of 236,096 shares trading hands.

Ooma Stock Up 0.8%

The firm has a market cap of $332.25 million, a P/E ratio of -63.36 and a beta of 1.17. The business's 50 day moving average is $12.97 and its 200-day moving average is $13.38.

Insider Buying and Selling

In related news, CEO Eric B. Stang sold 10,727 shares of the firm's 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 sale, the chief executive officer owned 1,236,997 shares of the company's stock, valued at approximately $16,056,221.06. This trade represents a 0.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $142,470.24. Following the completion of the sale, the chief financial officer directly owned 207,909 shares in the company, valued at $2,767,268.79. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,609 shares of company stock valued at $666,657. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in 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 in the last quarter. Nuveen LLC purchased a new stake in shares of Ooma during the 1st quarter worth about $3,465,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ooma by 284.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company's stock valued at $3,557,000 after acquiring an additional 187,245 shares during the last quarter. Millennium Management LLC boosted its position 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 acquiring an additional 142,220 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Ooma by 674.1% in the 4th quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company's stock valued at $1,806,000 after buying an additional 111,840 shares in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

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.