Namrata Sabharwal Sells 4,852 Shares of Ooma, Inc. (NYSE:OOMA) Stock

Ooma, Inc. (NYSE:OOMA) CAO Namrata Sabharwal sold 4,852 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $13.28, for a total transaction of $64,434.56. Following the completion of the sale, the chief accounting officer now directly owns 76,079 shares of the company’s stock, valued at $1,010,329.12. This trade represents a 6.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Namrata Sabharwal also recently made the following trade(s):

• On Tuesday, June 3rd, Namrata Sabharwal sold 3,428 shares of Ooma stock. The shares were sold at an average price of $13.46, for a total transaction of $46,140.88.

Ooma Stock Performance

Ooma stock opened at $13.25 on Friday. The stock has a market cap of $365.29 million, a P/E ratio of -35.82 and a beta of 1.22. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $12.72 and a 200-day moving average of $13.77. Ooma, Inc. has a 52 week low of $7.83 and a 52 week high of $17.00.

Hedge Funds Weigh In On Ooma

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Ooma by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company’s stock worth $18,158,000 after purchasing an additional 48,459 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Ooma by 39.8% during the first quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company’s stock worth $12,344,000 after purchasing an additional 268,636 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Ooma by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company’s stock worth $11,615,000 after purchasing an additional 3,200 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ooma by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company’s stock worth $7,794,000 after purchasing an additional 7,693 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Ooma by 81.6% during the first quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock worth $4,144,000 after purchasing an additional 142,220 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OOMA has been the subject of several recent research reports. Lake Street Capital lowered their price objective on shares of Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Benchmark increased their target price on Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $17.63.

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.