Ooma, Inc. (NYSE:OOMA) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Ooma, Inc. (NYSE:OOMA - Free Report) by 69.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,212 shares of the technology company's stock after buying an additional 66,678 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.61% of Ooma worth $1,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OOMA. Bailard Inc. acquired a new stake in Ooma in the second quarter valued at about $108,000. SG Americas Securities LLC purchased a new stake in shares of Ooma during the 3rd quarter worth about $115,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ooma in the second quarter worth $119,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Ooma in the 1st quarter worth approximately $130,000. Finally, Gladius Capital Management LP bought a new stake in Ooma in the third quarter valued at about $165,000. Institutional investors own 80.42% of the company's stock.

Ooma Stock Up 1.0 %

Shares of OOMA stock traded up $0.15 on Tuesday, reaching $14.55. 90,624 shares of the company were exchanged, compared to its average volume of 102,780. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $389.94 million, a price-to-earnings ratio of -76.84 and a beta of 0.92. Ooma, Inc. has a one year low of $6.50 and a one year high of $14.60. The company has a 50-day moving average of $12.25 and a 200-day moving average of $10.24.

Ooma (NYSE:OOMA - Get Free Report) last released its quarterly earnings results on Tuesday, August 27th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. The business had revenue of $64.13 million for the quarter, compared to the consensus estimate of $62.72 million. Analysts anticipate that Ooma, Inc. will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on OOMA shares. JMP Securities reaffirmed a "market perform" rating on shares of Ooma in a research note on Wednesday, August 28th. B. Riley increased their target price on shares of Ooma from $14.50 to $15.50 and gave the stock a "buy" rating in a report on Monday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Ooma currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

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.