Ooma (NYSE:OOMA) Stock Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Ooma's stock price fell below its 50-day moving average of $12.61, trading as low as $11.33 and closing at $11.37.
• Recent insider transactions included CAO Namrata Sabharwal selling 9,491 shares and Director Andrew H. Galligan selling 12,407 shares, indicating a decrease in their positions.
• Institutional investors hold 80.42% of Ooma's stock, with notable increases from Vanguard Group Inc. and Millennium Management LLC during the last quarters.

Shares of Ooma, Inc. (NYSE:OOMA - ) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.61 and traded as low as $11.33. Ooma shares last traded at $11.37, with a volume of 138,131 shares trading hands.

Ooma Price Performance

The firm has a market capitalization of $313.67 million, a PE ratio of -59.82 and a beta of 1.17. The company's fifty day simple moving average is $12.61 and its 200-day simple moving average is $13.22.

Insider Buying and Selling at Ooma

In other Ooma news, CAO Namrata Sabharwal sold 9,491 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.66, for a total value of $120,156.06. Following the completion of the sale, the chief accounting officer directly owned 65,935 shares in the company, valued at $834,737.10. This represents a 12.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew H. Galligan sold 12,407 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $12.43, for a total value of $154,219.01. Following the sale, the director directly owned 241,081 shares of the company's stock, valued at approximately $2,996,636.83. This trade represents a 4.89% decrease in their position. 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. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Ooma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ooma by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company's stock worth $18,158,000 after acquiring an additional 48,459 shares during the last quarter. Acadian Asset Management LLC increased its position in Ooma by 39.8% in the 1st 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. Renaissance Technologies LLC raised its holdings in Ooma by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company's stock worth $11,615,000 after purchasing an additional 3,200 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ooma by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company's stock worth $7,794,000 after purchasing an additional 7,693 shares in the last quarter. Finally, Millennium Management LLC lifted its stake 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 during the period. Institutional investors and hedge funds own 80.42% of the company's stock.

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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