Insider Selling: Ooma (NYSE:OOMA) CEO Sells $684,068.12 in Stock

Ooma, Inc. (NYSE:OOMA) CEO Eric Stang sold 29,639 shares of Ooma stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.08, for a total value of $684,068.12. Following the sale, the chief executive officer directly owned 1,199,941 shares of the company’s stock, valued at $27,694,638.28. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ooma Price Performance

Ooma stock opened at $22.57 on Thursday. The stock has a market cap of $622.79 million, a price-to-earnings ratio of 59.38 and a beta of 1.20. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $21.43 and a 200 day simple moving average of $18.22. Ooma, Inc. has a 52 week low of $9.79 and a 52 week high of $26.19.

Ooma (NYSE:OOMA) last released its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $83.23 million for the quarter, compared to analysts’ expectations of $81.72 million. Ooma had a return on equity of 23.55% 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 forecast that Ooma, Inc. will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ooma

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in Ooma in the second quarter worth $50,000. Meeder Asset Management Inc. lifted its stake in shares of Ooma by 28.3% in the 1st quarter. Meeder Asset Management Inc. now owns 3,359 shares of the technology company’s stock valued at $49,000 after acquiring an additional 740 shares during the last quarter. Archer Investment Corp purchased a new stake in Ooma during the 1st quarter valued at about $96,000. Essential Partners LLC grew its position in Ooma by 8.3% during the 1st quarter. Essential Partners LLC now owns 8,197 shares of the technology company’s stock worth $119,000 after acquiring an additional 626 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new position in Ooma in the 2nd quarter worth approximately $176,000. Institutional investors own 80.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on OOMA. Lake Street Capital reiterated a “buy” rating and set a $25.00 target price on shares of Ooma in a research report on Thursday, August 27th. Benchmark restated a “buy” rating on shares of Ooma in a research report on Monday, August 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Ooma in a report on Thursday, August 27th. UBS Group reiterated a “buy” rating on shares of Ooma in a research report on Thursday, August 27th. Finally, William Blair set a $24.00 target price on Ooma in a research note on Monday, August 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

About Ooma

Ooma, Inc is a cloud communications company that provides voice, collaboration, and related technology services to small and midsized businesses, enterprises, and residential customers. Its services are delivered primarily through internet-based platforms designed to help customers manage communications without relying on traditional on-premises phone systems.

For businesses, Ooma offers cloud phone and unified communications solutions under brands and product lines that include Ooma Office, Ooma Pro, Ooma Enterprise, and Ooma AirDial.