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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ooma Inc. (NYSE:OOMA) opened at 8.98 on Wednesday. The company’s market capitalization is $156.28 million. Ooma Inc. has a 12 month low of $5.43 and a 12 month high of $9.92. The firm’s 50-day moving average is $8.84 and its 200-day moving average is $7.78.
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, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The business earned $25.50 million during the quarter, compared to the consensus estimate of $25.21 million. Ooma had a negative return on equity of 32.89% and a negative net margin of 14.33%. Ooma’s quarterly revenue was up 20.9% on a year-over-year basis. Equities analysts anticipate that Ooma Inc. will post ($0.22) EPS for the current fiscal year.
A number of brokerages have recently issued reports on OOMA. Credit Suisse Group AG reissued a “buy” rating on shares of Ooma in a report on Wednesday, August 31st. Zacks Investment Research raised shares of Ooma from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Bank of America Corp. reaffirmed a “buy” rating and issued a $12.00 target price on shares of Ooma in a research note on Wednesday, August 31st. Finally, JMP Securities raised their target price on shares of Ooma from $12.00 to $14.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $12.15.
Several large investors have recently added to or reduced their stakes in OOMA. Boston Partners bought a new position in shares of Ooma during the second quarter worth about $2,316,000. Vanguard Group Inc. increased its position in shares of Ooma by 9.6% in the second quarter. Vanguard Group Inc. now owns 235,697 shares of the company’s stock worth $1,931,000 after buying an additional 20,566 shares during the period. Kavi Asset Management LP increased its position 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 worth $1,020,000 after buying an additional 48,000 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Ooma during the second quarter worth about $779,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Ooma during the first quarter worth about $473,000. Institutional investors and hedge funds own 22.73% of the company’s stock.
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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