Insider Selling: Ooma, Inc. (NYSE:OOMA) Director Sells 14,824 Shares of Stock

Ooma, Inc. (NYSE:OOMA - Get Free Report) Director Andrew H. Galligan sold 14,824 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the completion of the transaction, the director now directly owns 241,932 shares in the company, valued at $3,522,529.92. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ooma Stock Performance

Shares of OOMA traded up $0.36 during midday trading on Thursday, hitting $14.41. 285,823 shares of the stock traded hands, compared to its average volume of 109,285. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08. The business's 50 day moving average price is $13.49 and its two-hundred day moving average price is $11.07. The firm has a market capitalization of $389.07 million, a PE ratio of -38.94 and a beta of 0.94. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00.

Analysts Set New Price Targets

OOMA has been the subject of several analyst reports. Benchmark upped their target price on shares of Ooma from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of Ooma from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 6th. JMP Securities reaffirmed a "market perform" rating on shares of Ooma in a research report on Wednesday, August 28th. Lake Street Capital increased their price target on shares of Ooma from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Finally, B. Riley increased their target price on shares of Ooma from $14.50 to $15.50 and gave the stock a "buy" rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Ooma currently has a consensus rating of "Buy" and a consensus target price of $16.60.

Institutional Investors Weigh In On Ooma

A number of hedge funds have recently made changes to their positions in OOMA. Assenagon Asset Management S.A. increased its stake in shares of Ooma by 64.8% during the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company's stock valued at $1,923,000 after acquiring an additional 76,161 shares during the period. Bailard Inc. acquired a new position in shares of Ooma in the 2nd quarter worth $108,000. Allspring Global Investments Holdings LLC raised its position in shares of Ooma by 33.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 26,995 shares of the technology company's stock worth $268,000 after purchasing an additional 6,732 shares during the period. Rhumbline Advisers lifted its holdings in shares of Ooma by 17.1% during the second quarter. Rhumbline Advisers now owns 37,636 shares of the technology company's stock valued at $374,000 after purchasing an additional 5,494 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Ooma by 40.4% in the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company's stock valued at $5,314,000 after purchasing an additional 154,117 shares during the period. Institutional investors own 80.42% of the company's stock.

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.