Inspire Investing LLC acquired a new position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 57,015 shares of the technology company's stock, valued at approximately $802,000. Inspire Investing LLC owned about 0.21% of Ooma at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Ooma by 2.9% during the third quarter. State Street Corp now owns 475,737 shares of the technology company's stock worth $5,419,000 after purchasing an additional 13,240 shares during the period. Walleye Capital LLC boosted its holdings in shares of Ooma by 101.6% during the 3rd quarter. Walleye Capital LLC now owns 55,029 shares of the technology company's stock worth $627,000 after buying an additional 27,727 shares during the period. Barclays PLC grew its stake 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 buying an additional 24,402 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company's stock valued at $1,859,000 after buying an additional 66,678 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Ooma in the 2nd quarter valued at about $119,000. 80.42% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Lake Street Capital upped their target price on Ooma from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. StockNews.com raised Ooma from a "buy" rating to a "strong-buy" rating in a report on Friday, December 6th. Northland Securities lifted their target price on Ooma from $16.00 to $18.00 and gave the stock an "outperform" rating in a report on Thursday, December 5th. Benchmark boosted their target price on shares of Ooma from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, B. Riley raised their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $16.60.
Get Our Latest Stock Analysis on OOMA
Insider Buying and Selling at Ooma
In other news, Director Andrew H. Galligan sold 14,824 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the sale, the director now directly owns 241,932 shares in the company, valued at approximately $3,522,529.92. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James A. Gustke sold 3,582 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $17.00, for a total transaction of $60,894.00. Following the transaction, the senior vice president now owns 27,675 shares of the company's stock, valued at approximately $470,475. This represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,457 shares of company stock valued at $2,413,132 in the last ninety days. 9.76% of the stock is currently owned by company insiders.
Ooma Price Performance
Shares of NYSE OOMA traded up $0.28 during mid-day trading on Friday, reaching $14.39. The company had a trading volume of 134,056 shares, compared to its average volume of 83,495. Ooma, Inc. has a one year low of $6.50 and a one year high of $17.00. The business's 50-day simple moving average is $14.37 and its 200 day simple moving average is $12.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $388.40 million, a price-to-earnings ratio of -38.88 and a beta of 0.96.
About Ooma
(
Free Report)
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.
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