Ooma Inc. (OOMA) Director Russell Mann Sells 27,000 Shares
Ooma Inc. (NYSE:OOMA) Director Russell Mann sold 27,000 shares of Ooma stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $8.80, for a total value of $237,600.00. Following the completion of the transaction, the director now owns 55,974 shares of the company’s stock, valued at approximately $492,571.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Ooma Inc. (NYSE:OOMA) opened at 9.13 on Tuesday. The firm’s market capitalization is $158.89 million. The company has a 50-day moving average price of $8.84 and a 200 day moving average price of $7.76. Ooma Inc. has a 12-month low of $5.43 and a 12-month high of $9.92.
Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the 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 company earned $25.50 million during the quarter, compared to the consensus estimate of $25.21 million. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts expect that Ooma Inc. will post ($0.22) earnings per share for the current year.
Several large investors have recently made changes to their positions in OOMA. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ooma during the first quarter valued at $473,000. Boston Partners acquired a new stake in shares of Ooma during the second quarter valued at $2,316,000. Renaissance Technologies LLC acquired a new stake in shares of Ooma during the first quarter valued at $261,000. Kavi Asset Management LP increased its stake in shares of 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 period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 period. Institutional investors and hedge funds own 22.73% of the company’s stock.
Several equities analysts recently weighed in on the company. JMP Securities lifted their price target on Ooma from $12.00 to $14.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 31st. Zacks Investment Research upgraded Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG restated a “buy” rating on shares of Ooma in a research note on Wednesday, August 31st. Finally, Bank of America Corp. restated a “buy” rating and issued a $12.00 price target on shares of Ooma in a research note on Wednesday, August 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.15.
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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