Insider Selling: Ooma, Inc. (NYSE:OOMA) Director Sells 14,824 Shares of Stock

Ooma, Inc. (NYSE:OOMA) Director Andrew H. Galligan sold 14,824 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ooma Stock Up 2.6 %

Ooma stock opened at $14.41 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a fifty day simple moving average of $13.49 and a 200 day simple moving average of $11.07. The company has a market cap of $389.07 million, a P/E ratio of -38.94 and a beta of 0.94.

Analysts Set New Price Targets

A number of analysts have recently commented on OOMA shares. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, August 28th. Lake Street Capital upped their target price on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Northland Securities lifted their price target on shares of Ooma from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Benchmark upped their price objective on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, B. Riley raised their price objective on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $16.60.

Hedge Funds Weigh In On Ooma

Several hedge funds have recently modified their holdings of the stock. Virtus Investment Advisers Inc. bought a new position in shares of Ooma in the third quarter valued at $98,000. Bailard Inc. bought a new stake in Ooma during the second quarter worth $108,000. SG Americas Securities LLC acquired a new stake in Ooma in the third quarter valued at $115,000. Cubist Systematic Strategies LLC bought a new position in shares of Ooma in the 2nd quarter valued at about $119,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ooma during the 3rd quarter worth about $126,000. Institutional investors own 80.42% of the company’s stock.

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.