Spencer D. Jackson Sells 12,720 Shares of Ooma Inc. (OOMA) Stock
Ooma Inc. (NYSE:OOMA) VP Spencer D. Jackson sold 12,720 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $9.09, for a total transaction of $115,624.80. Following the completion of the transaction, the vice president now owns 109,500 shares of the company’s stock, valued at approximately $995,355. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Ooma Inc. (NYSE:OOMA) opened at 9.19 on Thursday. Ooma Inc. has a 12-month low of $5.43 and a 12-month high of $9.92. The company’s market capitalization is $159.93 million. The stock has a 50 day moving average of $8.74 and a 200 day moving average of $7.58.
Ooma (NYSE:OOMA) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company earned $25.50 million during the quarter, compared to the consensus estimate of $25.21 million. Ooma had a negative net margin of 14.33% and a negative return on equity of 32.89%. Ooma’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that Ooma Inc. will post ($0.22) EPS for the current year.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Ooma from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities upped their target price on shares of Ooma from $12.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 31st. Credit Suisse Group AG restated a “buy” rating on shares of Ooma in a research report on Tuesday, May 31st. Finally, Bank of America Corp. restated a “buy” rating and issued a $12.00 target price on shares of Ooma in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ooma presently has an average rating of “Buy” and a consensus price target of $12.15.
Several institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Ooma during the first quarter worth approximately $473,000. Boston Partners acquired a new position in Ooma during the second quarter worth approximately $2,316,000. Renaissance Technologies LLC acquired a new position in Ooma during the first quarter worth approximately $261,000. Kavi Asset Management LP increased its position in 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 last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Ooma by 6.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 58,723 shares of the company’s stock worth $481,000 after buying an additional 3,707 shares during the last quarter. 22.99% of the stock is owned by institutional investors.
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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