Hsbc Holdings PLC Takes $1.40 Million Position in Ooma, Inc. $OOMA

Hsbc Holdings PLC purchased a new stake in shares of Ooma, Inc. (NYSE:OOMA) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 72,557 shares of the technology company’s stock, valued at approximately $1,395,000.

A number of other hedge funds also recently modified their holdings of the business. PDT Partners LLC bought a new stake in shares of Ooma in the second quarter worth $223,000. Canada Pension Plan Investment Board bought a new position in Ooma during the 2nd quarter worth $204,000. Legal & General Group Plc bought a new position in Ooma during the 2nd quarter worth $50,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ooma during the 2nd quarter worth about $3,746,000. Finally, Globeflex Capital L P acquired a new position in Ooma during the 2nd quarter worth about $4,235,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Stock Down 1.4%

OOMA stock opened at $22.60 on Tuesday. The stock’s 50 day simple moving average is $20.55 and its 200 day simple moving average is $17.28. The company has a market cap of $621.50 million, a P/E ratio of 59.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.69 and a current ratio of 0.94. Ooma, Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $26.19.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $83.23 million during the quarter, compared to analysts’ expectations of $81.72 million. Ooma had a return on equity of 23.89% and a net margin of 3.57%.Ooma has set its FY 2027 guidance at 1.350-1.380 EPS and its Q3 2027 guidance at 0.340-0.350 EPS. On average, research analysts expect that Ooma, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Ooma

In other Ooma news, SVP Jenny C. Yeh sold 20,966 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $24.05, for a total value of $504,232.30. Following the transaction, the senior vice president directly owned 237,649 shares of the company’s stock, valued at approximately $5,715,458.45. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William D. Pearce sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $17.98, for a total transaction of $53,940.00. Following the completion of the transaction, the director directly owned 181,652 shares in the company, valued at approximately $3,266,102.96. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 111,922 shares of company stock worth $2,240,861. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

OOMA has been the topic of a number of analyst reports. William Blair set a $24.00 price target on Ooma in a research report on Monday, August 17th. Benchmark reaffirmed a “buy” rating on shares of Ooma in a research note on Monday, August 17th. UBS Group reaffirmed a “buy” rating on shares of Ooma in a research note on Thursday. B. Riley Financial upped their target price on Ooma from $24.00 to $27.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Ooma has an average rating of “Moderate Buy” and an average price target of $25.00.

Ooma Profile

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.