Andrew H. Galligan Sells 14,824 Shares of Ooma, Inc. (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA) Director Andrew H. Galligan sold 14,824 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was 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 owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ooma Trading Down 0.3 %

OOMA stock opened at $14.37 on Friday. The company has a market capitalization of $387.99 million, a PE ratio of -38.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.83 and a current ratio of 1.08. Ooma, Inc. has a one year low of $6.50 and a one year high of $17.00. The company’s 50 day moving average price is $13.55 and its two-hundred day moving average price is $11.09.

Hedge Funds Weigh In On Ooma

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its stake in Ooma by 40.4% in the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after purchasing an additional 154,117 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Ooma by 64.8% in the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after purchasing an additional 76,161 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ooma by 69.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after buying an additional 66,678 shares during the period. Renaissance Technologies LLC raised its holdings in Ooma by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock valued at $8,393,000 after buying an additional 33,100 shares during the last quarter. Finally, Walleye Capital LLC grew its holdings in Ooma by 101.6% in the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after acquiring an additional 27,727 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on OOMA. StockNews.com raised Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. B. Riley boosted their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital raised their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark upped their target price on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Northland Securities increased their target price on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Ooma has an average rating of “Buy” and a consensus price target of $16.60.

Ooma Company Profile

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.