Ooma's (OOMA) Buy Rating Reaffirmed at Benchmark

Key Points

• Ooma's stock has been reaffirmed with a "buy" rating by Benchmark, with a price target of $20.00, suggesting a potential upside of 65.98% from its current price of $12.05.
• Insiders, including CEO Eric B. Stang and CFO Shigeyuki Hamamatsu, have recently sold shares, with Stang selling 10,727 shares and Hamamatsu selling 10,704 shares, indicating a decrease in their ownership.
• Institutional investors now own 80.42% of Ooma's stock, with significant increases in holdings from firms like Wells Fargo and Marshall Wace LLP during the fourth quarter.

Ooma (NYSE:OOMA - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Benchmark in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $20.00 price objective on the technology company's stock. Benchmark's price target would suggest a potential upside of 65.98% from the company's current price.

Ooma Trading Up 3.5%

OOMA stock opened at $12.05 on Monday. The business's 50-day moving average price is $12.07 and its two-hundred day moving average price is $12.87. The firm has a market cap of $332.58 million, a PE ratio of -63.42 and a beta of 1.21. Ooma has a 1-year low of $8.30 and a 1-year high of $17.00.

Insider Transactions at Ooma

In other news, CEO Eric B. Stang sold 10,727 shares of the business's stock in a transaction dated 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 directly owned 1,236,997 shares in the company, valued at $16,056,221.06. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Shigeyuki Hamamatsu sold 10,704 shares of the business's stock in a transaction dated Monday, June 9th. The shares were 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 owned 207,909 shares in the company, valued at approximately $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 ninety days, insiders have sold 51,609 shares of company stock valued at $666,657. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of Ooma

A number of institutional investors have recently modified their holdings of OOMA. Wells Fargo & Company MN lifted its holdings in shares of Ooma by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock valued at $215,000 after purchasing an additional 3,466 shares in the last quarter. Barclays PLC increased its position in shares of Ooma by 0.9% in the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company's stock valued at $1,405,000 after acquiring an additional 927 shares during the last quarter. Marshall Wace LLP increased its position in shares of Ooma by 188.3% in the fourth quarter. Marshall Wace LLP now owns 146,621 shares of the technology company's stock valued at $2,061,000 after acquiring an additional 95,765 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Ooma in the fourth quarter valued at about $168,000. Finally, Northern Trust Corp increased its position in shares of Ooma by 5.4% in the fourth quarter. Northern Trust Corp now owns 215,579 shares of the technology company's stock valued at $3,031,000 after acquiring an additional 11,107 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

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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