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 stock in a transaction that occurred on 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 sale, the director now owns 241,932 shares of the company’s stock, valued at approximately $3,522,529.92. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Ooma Stock Down 0.3 %

NYSE:OOMA opened at $14.37 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.83. The firm’s 50-day moving average price is $13.55 and its 200-day moving average price is $11.09. The company has a market capitalization of $387.99 million, a PE ratio of -38.84 and a beta of 0.94. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00.

Institutional Investors Weigh In On Ooma

Several hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC increased its stake in shares of Ooma by 40.4% during the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after purchasing an additional 154,117 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Ooma by 64.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after buying an additional 76,161 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Ooma by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after buying an additional 66,678 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ooma by 4.1% during the second 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 boosted its holdings in Ooma by 101.6% in the third 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 in the last quarter. Institutional investors own 80.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OOMA shares. B. Riley raised their price target on 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 target price on shares of Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. JMP Securities reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. Benchmark raised their price objective on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.60.

About Ooma

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.