Ooma Inc. (OOMA) Director Russell Mann Sells 27,000 Shares
Ooma Inc. (NYSE:OOMA) Director Russell Mann sold 27,000 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $8.80, for a total transaction of $237,600.00. Following the sale, the director now owns 55,974 shares of the company’s stock, valued at approximately $492,571.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ooma Inc. (NYSE:OOMA) opened at 9.13 on Tuesday. The stock’s market capitalization is $158.89 million. Ooma Inc. has a 12-month low of $5.43 and a 12-month high of $9.92. The company’s 50-day moving average is $8.84 and its 200 day moving average is $7.76.
Ooma (NYSE:OOMA) last released its quarterly earnings results on Tuesday, August 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Ooma had a negative net margin of 14.33% and a negative return on equity of 32.89%. The firm had revenue of $25.50 million for the quarter, compared to the consensus estimate of $25.21 million. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts predict that Ooma Inc. will post ($0.22) EPS for the current year.
OOMA has been the subject of several recent research reports. Bank of America Corp. reiterated a “buy” rating and set a $12.00 target price on shares of Ooma in a research note on Wednesday, August 31st. Credit Suisse Group AG reiterated a “buy” rating on shares of Ooma in a research note on Wednesday, August 31st. Zacks Investment Research raised shares of Ooma from a “sell” rating to a “hold” rating in a report on Wednesday, September 21st. Finally, JMP Securities increased their price target on shares of Ooma from $12.00 to $14.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.15.
Several large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new stake in Ooma during the first quarter valued at $473,000. Boston Partners bought a new stake in Ooma during the second quarter valued at $2,316,000. Renaissance Technologies LLC bought a new stake in Ooma during the first quarter valued at $261,000. Kavi Asset Management LP increased its stake in Ooma by 62.7% in the second quarter. Kavi Asset Management LP now owns 124,500 shares of the company’s stock valued at $1,020,000 after buying an additional 48,000 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock valued at $481,000 after buying an additional 3,707 shares during the last quarter. 22.73% of the stock is owned by institutional investors.
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.
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