a16z Perennial Management L.P. Buys 35,334 Shares of Omada Health, Inc. $OMDA

a16z Perennial Management L.P. grew its position in Omada Health, Inc. (NASDAQ:OMDA) by 22.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 192,466 shares of the company’s stock after buying an additional 35,334 shares during the period. Omada Health accounts for approximately 0.2% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 28th largest holding. a16z Perennial Management L.P. owned approximately 0.32% of Omada Health worth $2,365,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of OMDA. Quarry LP acquired a new stake in Omada Health in the fourth quarter worth $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Omada Health in the fourth quarter valued at about $32,000. Raymond James Financial Inc. acquired a new position in Omada Health during the 2nd quarter worth approximately $32,000. Inlight Wealth Management LLC bought a new position in Omada Health in the fourth quarter valued at $45,000. Finally, Strs Ohio increased its position in shares of Omada Health by 151.0% in the fourth quarter. Strs Ohio now owns 4,267 shares of the company’s stock valued at $67,000 after acquiring an additional 2,567 shares during the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on OMDA. Citizens Jmp upped their price objective on Omada Health from $21.00 to $27.00 and gave the company a “market outperform” rating in a research note on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Omada Health in a research report on Monday. Finally, Weiss Ratings cut shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Omada Health presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Omada Health Stock Down 3.8%

Shares of Omada Health stock opened at $22.99 on Wednesday. The company’s fifty day simple moving average is $19.35 and its two-hundred day simple moving average is $15.77. The firm has a market cap of $1.37 billion and a PE ratio of -85.15. Omada Health, Inc. has a 12-month low of $10.28 and a 12-month high of $26.92.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $78.05 million during the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. As a group, sell-side analysts expect that Omada Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sean P. Duffy sold 25,886 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven L. Cook sold 33,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the sale, the chief financial officer owned 133,359 shares of the company’s stock, valued at approximately $2,652,510.51. This represents a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,462 shares of company stock worth $3,927,425. Corporate insiders own 6.38% of the company’s stock.

Omada Health Company Profile

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company’s platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.