Ooma's (OOMA) Market Perform Rating Reaffirmed at JMP Securities

Key Points

• Ooma's stock rating has been reaffirmed as "market perform" by JMP Securities, while Benchmark maintains a "buy" rating with a target price of $20.00.
• The stock price increased by 8.6% to $13.30 on Wednesday, with a market capitalization of $367 million.
• Insider trading showed significant sales, with CFO Shigeyuki Hamamatsu and CEO Eric B. Stang selling shares recently, reducing their ownership.

Ooma (NYSE:OOMA - Get Free Report)'s stock had its "market perform" rating reaffirmed by equities research analysts at JMP Securities in a research report issued on Wednesday,Benzinga reports.

Separately, Benchmark reiterated a "buy" rating and set a $20.00 target price on shares of Ooma in a research report on Monday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.63.

Ooma Stock Up 8.6%

NYSE OOMA traded up $1.06 during trading hours on Wednesday, reaching $13.30. 218,599 shares of the company were exchanged, compared to its average volume of 139,537. Ooma has a 1 year low of $9.04 and a 1 year high of $17.00. The business's 50 day simple moving average is $12.06 and its 200-day simple moving average is $12.85. The stock has a market capitalization of $367.00 million, a P/E ratio of -70.11 and a beta of 1.21.

Insider Activity

In other Ooma news, CFO Shigeyuki Hamamatsu sold 10,704 shares of Ooma stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $13.31, for a total transaction 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. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric B. Stang sold 10,727 shares of Ooma stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $12.98, for a total transaction 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. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,609 shares of company stock valued at $666,657 over the last ninety days. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Barclays PLC raised its stake in shares of Ooma by 0.9% during the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company's stock worth $1,405,000 after acquiring an additional 927 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Ooma by 1.0% during the second quarter. Ameriprise Financial Inc. now owns 111,251 shares of the technology company's stock worth $1,435,000 after acquiring an additional 1,137 shares in the last quarter. Bard Associates Inc. raised its stake in shares of Ooma by 5.9% during the first quarter. Bard Associates Inc. now owns 28,257 shares of the technology company's stock worth $370,000 after acquiring an additional 1,582 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Ooma by 2,188.0% during the second quarter. New York State Teachers Retirement System now owns 2,288 shares of the technology company's stock worth $30,000 after acquiring an additional 2,188 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Ooma by 225.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company's stock worth $47,000 after acquiring an additional 2,507 shares in the last quarter. 80.42% of the stock is owned by hedge funds and other 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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