Ooma Inc (OOMA) CFO Sells $55,347.93 in Stock

Ooma Inc (NYSE:OOMA) CFO Ravi Narula sold 4,533 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $12.21, for a total value of $55,347.93. Following the completion of the sale, the chief financial officer now owns 196,663 shares of the company’s stock, valued at $2,401,255.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ravi Narula also recently made the following trade(s):

  • On Friday, May 18th, Ravi Narula sold 13,599 shares of Ooma stock. The stock was sold at an average price of $12.04, for a total value of $163,731.96.

Ooma traded down $0.25, hitting $12.20, on Thursday, according to Marketbeat.com. 60,429 shares of the company’s stock were exchanged, compared to its average volume of 55,741. Ooma Inc has a 52 week low of $7.30 and a 52 week high of $13.45. The stock has a market capitalization of $244.02 million, a PE ratio of -17.68 and a beta of 0.85.

Ooma (NYSE:OOMA) last released its earnings results on Tuesday, May 22nd. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Ooma had a negative return on equity of 33.09% and a negative net margin of 11.45%. The firm had revenue of $30.22 million during the quarter, compared to analysts’ expectations of $29.71 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. equities research analysts expect that Ooma Inc will post -0.74 earnings per share for the current year.

OOMA has been the subject of several recent analyst reports. Northland Securities restated a “buy” rating and set a $15.00 target price on shares of Ooma in a research note on Wednesday, March 7th. Credit Suisse Group restated a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Ooma in a research note on Wednesday, March 7th. Zacks Investment Research cut Ooma from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. B. Riley upped their target price on Ooma from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Finally, ValuEngine upgraded Ooma from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ooma presently has a consensus rating of “Buy” and a consensus price target of $14.38.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of Ooma by 11.8% in the 1st quarter. Russell Investments Group Ltd. now owns 943,102 shares of the technology company’s stock valued at $10,279,000 after acquiring an additional 99,432 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Ooma by 978.6% in the 1st quarter. JPMorgan Chase & Co. now owns 254,189 shares of the technology company’s stock valued at $2,771,000 after acquiring an additional 230,622 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Ooma by 3.8% in the 1st quarter. BlackRock Inc. now owns 878,596 shares of the technology company’s stock valued at $9,575,000 after acquiring an additional 32,273 shares during the last quarter. Alambic Investment Management L.P. bought a new position in shares of Ooma in the 1st quarter valued at $523,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Ooma by 29.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 37,100 shares of the technology company’s stock valued at $405,000 after acquiring an additional 8,400 shares during the last quarter. Institutional investors own 73.83% of the company’s stock.

About Ooma

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

Insider Buying and Selling by Quarter for Ooma (NYSE:OOMA)

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