Hsbc Holdings PLC Sells 932 Shares of Ooma, Inc. $OOMA

Hsbc Holdings PLC reduced its holdings in shares of Ooma, Inc. (NYSE:OOMA) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,669 shares of the technology company’s stock after selling 932 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Ooma worth $307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of OOMA. Invesco Ltd. bought a new stake in shares of Ooma during the 1st quarter worth $161,000. Squarepoint Ops LLC bought a new stake in shares of Ooma during the 4th quarter worth $186,000. Wells Fargo & Company MN lifted its position in shares of Ooma by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company’s stock worth $215,000 after buying an additional 3,466 shares during the last quarter. Bailard Inc. lifted its position in shares of Ooma by 36.0% during the 1st quarter. Bailard Inc. now owns 16,392 shares of the technology company’s stock worth $215,000 after buying an additional 4,335 shares during the last quarter. Finally, Occudo Quantitative Strategies LP lifted its position in shares of Ooma by 14.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 22,957 shares of the technology company’s stock worth $323,000 after buying an additional 2,833 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Andrew H. Galligan sold 12,407 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $12.43, for a total transaction of $154,219.01. Following the completion of the transaction, the director directly owned 241,081 shares in the company, valued at $2,996,636.83. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric B. Stang sold 10,727 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $12.98, for a total value of $139,236.46. Following the transaction, the chief executive officer owned 1,236,997 shares of the company’s stock, valued at $16,056,221.06. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,329 shares of company stock valued at $556,082 over the last three months. 9.90% of the stock is owned by insiders.

Analysts Set New Price Targets

OOMA has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 27th. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Ooma in a report on Monday, August 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

Ooma Price Performance

Shares of OOMA opened at $12.93 on Thursday. Ooma, Inc. has a 1 year low of $10.23 and a 1 year high of $17.00. The company has a market capitalization of $356.73 million, a price-to-earnings ratio of -184.62 and a beta of 1.30. The business has a 50-day moving average of $12.13 and a 200-day moving average of $12.78.

Ooma 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.