Trigran Investments Inc. Sells 281,151 Shares of Ooma, Inc. $OOMA

Trigran Investments Inc. cut its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 12.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,948,061 shares of the technology company’s stock after selling 281,151 shares during the period. Ooma makes up 4.5% of Trigran Investments Inc.’s holdings, making the stock its 13th biggest holding. Trigran Investments Inc. owned about 0.07% of Ooma worth $22,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFC & Insurance Marketing Inc. bought a new position in shares of Ooma during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC boosted its stake in shares of Ooma by 225.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,620 shares of the technology company’s stock valued at $47,000 after purchasing an additional 2,507 shares in the last quarter. CWM LLC boosted its stake in shares of Ooma by 45.6% during the fourth quarter. CWM LLC now owns 4,400 shares of the technology company’s stock valued at $52,000 after purchasing an additional 1,378 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Ooma by 503.1% during the second quarter. Lazard Asset Management LLC now owns 4,927 shares of the technology company’s stock valued at $63,000 after purchasing an additional 4,110 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Ooma during the third quarter valued at approximately $77,000. 80.42% of the stock is currently owned by institutional investors.

Insider Activity at Ooma

In other Ooma news, CFO Shigeyuki Hamamatsu sold 27,696 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.64, for a total value of $488,557.44. Following the completion of the sale, the chief financial officer directly owned 193,283 shares in the company, valued at $3,409,512.12. This trade represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Pearce sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.98, for a total transaction of $53,940.00. Following the completion of the sale, the director owned 181,652 shares of the company’s stock, valued at approximately $3,266,102.96. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.90% of the stock is owned by company insiders.

Ooma Price Performance

Shares of OOMA opened at $17.57 on Monday. The company has a market cap of $483.04 million, a price-to-earnings ratio of 54.89 and a beta of 1.22. Ooma, Inc. has a twelve month low of $9.79 and a twelve month high of $21.96. The company has a quick ratio of 0.69, a current ratio of 0.94 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $16.99 and a two-hundred day moving average of $13.91.

Ooma (NYSE:OOMA) last announced its earnings results on Tuesday, May 26th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $81.15 million during the quarter, compared to the consensus estimate of $79.84 million. Ooma had a net margin of 3.17% and a return on equity of 20.21%. Ooma has set its FY 2027 guidance at 1.290-1.340 EPS and its Q2 2027 guidance at 0.330-0.340 EPS. As a group, analysts predict that Ooma, Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OOMA has been the topic of a number of recent research reports. Citigroup reiterated a “market perform” rating on shares of Ooma in a research note on Wednesday, May 27th. B. Riley Financial reiterated a “buy” rating on shares of Ooma in a research note on Monday, May 18th. Lake Street Capital increased their price objective on shares of Ooma from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Benchmark reiterated a “buy” rating on shares of Ooma in a research note on Thursday, March 5th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Ooma in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.33.

About Ooma

Ooma, Inc, headquartered in Sunnyvale, California, is a leading provider of communication services for residential and business customers. Since its founding in 2004, Ooma has built a cloud-based platform that leverages Voice over Internet Protocol (VoIP) technology to deliver voice, video and data services over broadband networks. The company went public on the New York Stock Exchange in 2015 under the ticker OOMA and has continued to expand its service portfolio to meet evolving customer demands.

For residential users, Ooma offers an all-in-one home phone service that includes its flagship Telo device, mobile and web applications, and optional smart home security features.