Assenagon Asset Management S.A. Sells 2,036 Shares of Ooma, Inc. $OOMA

Assenagon Asset Management S.A. lowered its stake in shares of Ooma, Inc. (NYSE:OOMA) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,008 shares of the technology company’s stock after selling 2,036 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.53% of Ooma worth $1,871,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Ooma by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company’s stock valued at $18,158,000 after purchasing an additional 48,459 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Ooma by 39.8% during the 1st quarter. Acadian Asset Management LLC now owns 943,971 shares of the technology company’s stock worth $12,344,000 after buying an additional 268,636 shares in the last quarter. Millennium Management LLC boosted its position in Ooma by 81.6% in the 1st quarter. Millennium Management LLC now owns 316,564 shares of the technology company’s stock valued at $4,144,000 after buying an additional 142,220 shares during the last quarter. Nuveen LLC bought a new position in Ooma in the 1st quarter valued at $3,465,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Ooma by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,612 shares of the technology company’s stock valued at $3,254,000 after buying an additional 11,300 shares during the period. 80.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OOMA. JMP Securities reiterated a “market perform” rating on shares of Ooma in a report on Wednesday, August 27th. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Ooma in a research report on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.63.

Ooma Stock Performance

Shares of NYSE OOMA opened at $12.46 on Friday. Ooma, Inc. has a 52-week low of $10.93 and a 52-week high of $17.00. The stock has a market cap of $343.90 million, a P/E ratio of -177.97 and a beta of 1.30. The firm has a 50 day moving average price of $12.17 and a 200 day moving average price of $12.59.

Insiders Place Their Bets

In other Ooma news, CFO Shigeyuki Hamamatsu sold 7,335 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.89, for a total value of $94,548.15. Following the completion of the transaction, the chief financial officer directly owned 191,972 shares of the company’s stock, valued at approximately $2,474,519.08. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric B. Stang sold 19,265 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.85, for a total value of $247,555.25. Following the sale, the chief executive officer directly owned 688,729 shares in the company, valued at approximately $8,850,167.65. This represents a 2.72% decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

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.