Connor Clark & Lunn Investment Management Ltd. Raises Position in Ooma, Inc. (NYSE:OOMA)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Ooma, Inc. (NYSE:OOMA - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,221 shares of the technology company's stock after purchasing an additional 66,009 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.85% of Ooma worth $3,223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OOMA. Inspire Investing LLC bought a new position in shares of Ooma during the 4th quarter worth approximately $802,000. Walleye Capital LLC raised its holdings in Ooma by 101.6% in the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company's stock valued at $627,000 after acquiring an additional 27,727 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ooma in the 3rd quarter valued at $280,000. Barclays PLC raised its holdings in Ooma by 32.7% in the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company's stock valued at $1,128,000 after acquiring an additional 24,402 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in Ooma by 38.6% in the 3rd quarter. Martingale Asset Management L P now owns 63,127 shares of the technology company's stock valued at $719,000 after acquiring an additional 17,590 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors.

Ooma Stock Down 2.4 %

OOMA stock traded down $0.32 during trading on Friday, reaching $13.30. 218,985 shares of the stock were exchanged, compared to its average volume of 125,356. The firm's 50 day moving average is $14.31 and its 200 day moving average is $13.39. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $17.00. 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 firm has a market cap of $359.02 million, a P/E ratio of -35.94 and a beta of 0.99.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on OOMA. Northland Securities lifted their price objective on Ooma from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Lake Street Capital dropped their price objective on Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. B. Riley boosted their price objective on Ooma from $14.50 to $15.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. StockNews.com raised Ooma from a "buy" rating to a "strong-buy" rating in a research note on Friday, December 6th. Finally, Benchmark boosted their price objective on Ooma from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ooma presently has a consensus rating of "Buy" and an average price target of $17.63.

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.