Russell Investments Group Ltd. Decreases Holdings in Ooma, Inc. (NYSE:OOMA)

Russell Investments Group Ltd. lessened its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,557 shares of the technology company's stock after selling 123,363 shares during the quarter. Russell Investments Group Ltd. owned about 1.21% of Ooma worth $4,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in OOMA. Vanguard Group Inc. increased its stake in Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock valued at $18,822,000 after purchasing an additional 71,247 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ooma by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company's stock worth $7,794,000 after acquiring an additional 7,693 shares in the last quarter. State Street Corp increased its position in shares of 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 acquiring an additional 13,240 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ooma by 284.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company's stock worth $3,557,000 after acquiring an additional 187,245 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Ooma by 40.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company's stock valued at $3,223,000 after acquiring an additional 66,009 shares in the last quarter. Institutional investors own 80.42% of the company's stock.

Ooma Stock Performance

Shares of Ooma stock traded down $0.45 during mid-day trading on Monday, hitting $11.89. 88,065 shares of the stock were exchanged, compared to its average volume of 125,051. Ooma, Inc. has a 12 month low of $6.50 and a 12 month high of $17.00. The company has a 50-day simple moving average of $13.48 and a 200 day simple moving average of $13.66. The company has a market capitalization of $328.16 million, a P/E ratio of -32.13 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Benchmark boosted their price objective on 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 for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price 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.