Trigran Investments Inc. Has $49.03 Million Stake in Ooma, Inc. (NYSE:OOMA)

Trigran Investments Inc. reduced its holdings in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,487,277 shares of the technology company's stock after selling 337,002 shares during the quarter. Ooma accounts for 5.6% of Trigran Investments Inc.'s portfolio, making the stock its 9th largest position. Trigran Investments Inc. owned about 12.92% of Ooma worth $49,031,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its holdings in 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 period. Alliancebernstein L.P. boosted its stake in shares of Ooma by 674.1% in the fourth quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company's stock valued at $1,806,000 after purchasing an additional 111,840 shares during the period. Marshall Wace LLP grew its holdings in Ooma by 188.3% during the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company's stock valued at $2,061,000 after purchasing an additional 95,765 shares in the last quarter. Norges Bank purchased a new stake in Ooma during the 4th quarter worth $1,067,000. Finally, Vanguard Group Inc. lifted its holdings in Ooma by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock worth $18,822,000 after buying an additional 71,247 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company's stock.

Ooma Stock Performance

Shares of Ooma stock traded up $0.11 during trading hours on Thursday, reaching $11.77. The company's stock had a trading volume of 73,712 shares, compared to its average volume of 124,273. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma, Inc. has a one year low of $6.50 and a one year high of $17.00. The company's 50 day simple moving average is $13.34 and its 200 day simple moving average is $13.64. The stock has a market cap of $324.71 million, a P/E ratio of -31.80 and a beta of 1.06.

Wall Street Analysts Forecast Growth

OOMA has been the subject of several recent analyst reports. Lake Street Capital lowered their target price on Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Benchmark raised their price target on shares of Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, four 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 company currently has an average rating of "Buy" and a consensus price target of $17.63.

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.