Norges Bank Purchases New Stake in Ooma, Inc. (NYSE:OOMA)

Norges Bank bought a new stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 75,900 shares of the technology company's stock, valued at approximately $1,067,000. Norges Bank owned approximately 0.28% of Ooma as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OOMA. Charles Schwab Investment Management Inc. grew its position in Ooma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 70,829 shares of the technology company's stock valued at $807,000 after acquiring an additional 3,138 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ooma by 24.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,284 shares of the technology company's stock valued at $482,000 after purchasing an additional 8,439 shares in the last quarter. State Street Corp grew its holdings in shares of Ooma by 2.9% in the 3rd 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 last quarter. Jane Street Group LLC increased its position in shares of Ooma by 2.1% during the 3rd quarter. Jane Street Group LLC now owns 40,547 shares of the technology company's stock worth $462,000 after purchasing an additional 818 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Ooma during the 3rd quarter valued at about $185,000. Institutional investors own 80.42% of the company's stock.

Ooma Price Performance

OOMA traded down $0.21 during midday trading on Wednesday, hitting $12.23. The company had a trading volume of 38,400 shares, compared to its average volume of 124,793. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $17.00. The company has a market capitalization of $337.55 million, a PE ratio of -33.05 and a beta of 1.06. 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's 50-day simple moving average is $13.69 and its 200-day simple moving average is $13.62.

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Analysts Set New Price Targets

OOMA has been the subject of several recent analyst reports. Benchmark raised their price objective on shares of Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Lake Street Capital decreased their price target on Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Ooma has a consensus rating of "Buy" and an average price target of $17.63.

About Ooma

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.