JPMorgan Chase & Co. Sells 23,884 Shares of Ooma, Inc. (NYSE:OOMA)

JPMorgan Chase & Co. lessened its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 596,602 shares of the technology company's stock after selling 23,884 shares during the quarter. JPMorgan Chase & Co. owned about 2.21% of Ooma worth $6,795,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 worth $1,859,000 after acquiring an additional 66,678 shares during the period. Renaissance Technologies LLC grew its position in shares of Ooma by 4.1% in the second quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company's stock valued at $8,393,000 after purchasing an additional 33,100 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Ooma by 101.6% in the third quarter. Walleye Capital LLC now owns 55,029 shares of the technology company's stock worth $627,000 after purchasing an additional 27,727 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ooma during the 3rd quarter worth about $280,000. Finally, Barclays PLC boosted its stake in Ooma by 32.7% during the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company's stock valued at $1,128,000 after purchasing an additional 24,402 shares during the period. Institutional investors and hedge funds own 80.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. B. Riley lifted their price target 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 shares of Ooma from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 6th. Northland Securities increased their price target on shares of Ooma from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, December 5th. Benchmark boosted their price objective on shares of Ooma from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Lake Street Capital lifted their target price on Ooma from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.60.

Ooma Price Performance

Shares of OOMA stock traded down $0.02 during mid-day trading on Thursday, reaching $14.03. The company's stock had a trading volume of 104,761 shares, compared to its average volume of 105,226. The firm's 50-day moving average is $14.27 and its two-hundred day moving average is $11.80. The company has a market cap of $378.78 million, a P/E ratio of -37.92 and a beta of 0.96. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08.

Insider Buying and Selling at Ooma

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of Ooma stock in a transaction on Friday, December 6th. The stock was sold at an average price of $15.10, for a total transaction of $929,858.00. Following the completion of the transaction, the chief executive officer now directly owns 1,245,665 shares of the company's stock, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James A. Gustke sold 3,582 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $17.00, for a total transaction of $60,894.00. Following the completion of the sale, the senior vice president now owns 27,675 shares in the company, valued at $470,475. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,457 shares of company stock valued at $2,413,132. 9.76% of the stock is currently 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.