Ooma Inc (OOMA) Position Lowered by Royce & Associates LP

Royce & Associates LP decreased its stake in shares of Ooma Inc (NYSE:OOMA) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,164 shares of the technology company’s stock after selling 47,671 shares during the quarter. Royce & Associates LP owned approximately 2.70% of Ooma worth $8,784,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OOMA. Engineers Gate Manager LP purchased a new position in Ooma in the 2nd quarter worth approximately $157,000. Bank of Montreal Can raised its position in shares of Ooma by 7,344.6% during the 3rd quarter. Bank of Montreal Can now owns 9,678 shares of the technology company’s stock valued at $160,000 after acquiring an additional 9,548 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Ooma during the 2nd quarter valued at approximately $173,000. GSA Capital Partners LLP acquired a new stake in shares of Ooma during the 3rd quarter valued at approximately $183,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Ooma in the third quarter worth $192,000. Institutional investors and hedge funds own 76.63% of the company’s stock.

Shares of NYSE:OOMA opened at $13.97 on Friday. Ooma Inc has a 1-year low of $9.30 and a 1-year high of $17.50.

Ooma (NYSE:OOMA) last posted its earnings results on Tuesday, November 27th. The technology company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. The business had revenue of $32.61 million during the quarter, compared to the consensus estimate of $31.74 million. Ooma had a negative return on equity of 36.11% and a negative net margin of 11.23%. Ooma’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that Ooma Inc will post -0.69 earnings per share for the current year.

In other Ooma news, VP James A. Gustke sold 5,500 shares of Ooma stock in a transaction on Monday, October 1st. The stock was sold at an average price of $16.38, for a total value of $90,090.00. Following the completion of the transaction, the vice president now owns 138,275 shares in the company, valued at approximately $2,264,944.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric B. Stang sold 19,030 shares of Ooma stock in a transaction on Monday, September 10th. The shares were sold at an average price of $15.82, for a total value of $301,054.60. Following the completion of the transaction, the chief executive officer now owns 372,500 shares of the company’s stock, valued at approximately $5,892,950. The disclosure for this sale can be found here. Insiders have sold a total of 51,594 shares of company stock valued at $789,464 in the last 90 days. 10.47% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on OOMA. Credit Suisse Group began coverage on Ooma in a research note on Friday, August 10th. They issued a “neutral” rating and a $13.00 price target for the company. B. Riley increased their price target on Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. William Blair raised Ooma from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 28th. Finally, Zacks Investment Research raised Ooma from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $15.80.

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Ooma Profile

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

Read More: Market Capitalization

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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