Ooma, Inc. (NYSE:OOMA) Shares Acquired by Perkins Capital Management Inc.

Perkins Capital Management Inc. lifted its stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,409 shares of the technology company's stock after buying an additional 22,309 shares during the quarter. Ooma makes up about 2.4% of Perkins Capital Management Inc.'s investment portfolio, making the stock its 12th largest holding. Perkins Capital Management Inc. owned approximately 0.71% of Ooma worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Ooma during the fourth quarter valued at approximately $92,000. Virtus Investment Advisers Inc. bought a new stake in shares of Ooma in the 3rd quarter valued at approximately $98,000. Paloma Partners Management Co acquired a new stake in shares of Ooma during the 3rd quarter valued at approximately $126,000. PDT Partners LLC bought a new position in Ooma during the third quarter worth $170,000. Finally, SG Americas Securities LLC boosted its holdings in Ooma by 26.4% in the fourth quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company's stock worth $180,000 after purchasing an additional 2,663 shares during the period. Institutional investors own 80.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OOMA shares. Benchmark increased their target price on Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Ooma from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 6th. Lake Street Capital decreased their target price on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Finally, Northland Securities raised their price target on shares of Ooma from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $17.63.

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Ooma Price Performance

Ooma stock traded down $0.57 during trading hours on Friday, hitting $12.89. 118,646 shares of the company traded hands, compared to its average volume of 121,779. Ooma, Inc. has a 1-year low of $6.50 and a 1-year high of $17.00. The firm has a market cap of $348.03 million, a P/E ratio of -34.84 and a beta of 0.99. The firm's 50-day simple moving average is $14.27 and its two-hundred day simple moving average is $13.52. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

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.