Bank of America Corp DE lowered its stake in shares of Ooma Inc (NYSE:OOMA) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,557 shares of the technology company’s stock after selling 17,196 shares during the quarter. Bank of America Corp DE owned 0.41% of Ooma worth $1,146,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in OOMA. BlackRock Inc. grew its stake in Ooma by 27.0% in the 3rd quarter. BlackRock Inc. now owns 1,592,897 shares of the technology company’s stock valued at $26,443,000 after purchasing an additional 339,080 shares during the period. Boston Partners grew its stake in Ooma by 30.6% in the 4th quarter. Boston Partners now owns 570,499 shares of the technology company’s stock valued at $7,919,000 after purchasing an additional 133,619 shares during the period. Portolan Capital Management LLC grew its stake in Ooma by 37.6% in the 4th quarter. Portolan Capital Management LLC now owns 482,445 shares of the technology company’s stock valued at $6,696,000 after purchasing an additional 131,759 shares during the period. Morgan Stanley grew its stake in Ooma by 106.5% in the 3rd quarter. Morgan Stanley now owns 93,201 shares of the technology company’s stock valued at $1,547,000 after purchasing an additional 48,068 shares during the period. Finally, Monashee Investment Management LLC bought a new position in Ooma in the 4th quarter valued at $621,000. Institutional investors and hedge funds own 75.29% of the company’s stock.
OOMA stock opened at $13.77 on Friday. The firm has a market cap of $284.63 million, a PE ratio of -19.96 and a beta of 0.91. Ooma Inc has a fifty-two week low of $10.65 and a fifty-two week high of $17.50.
Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, March 5th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $34.72 million during the quarter, compared to the consensus estimate of $33.19 million. Ooma had a negative return on equity of 39.40% and a negative net margin of 11.28%. On average, research analysts forecast that Ooma Inc will post -0.82 earnings per share for the current fiscal year.
A number of research analysts have issued reports on OOMA shares. B. Riley upped their price objective on Ooma from $20.00 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JMP Securities restated a “buy” rating and issued a $20.00 price objective on shares of Ooma in a research note on Wednesday, March 6th. ValuEngine downgraded Ooma from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded Ooma from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Ooma currently has a consensus rating of “Buy” and an average target price of $17.63.
In other news, CEO Eric B. Stang sold 11,548 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $15.12, for a total transaction of $174,605.76. Following the completion of the transaction, the chief executive officer now owns 292,500 shares in the company, valued at approximately $4,422,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,548 shares of company stock valued at $188,106 in the last quarter. 10.19% of the stock is owned by corporate insiders.
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Ooma Company Profile
Ooma, Inc creates connected experiences for businesses and consumers in the United States, Canada, and internationally. The company's smart cloud-based SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security, and other connected services. Its business and residential solutions deliver PureVoice high-definition voice quality, advanced functionality, and integration with mobile devices; and platform helps to create smart workplace and homes by offering communications, monitoring, security, automation, productivity, and networking infrastructure applications.
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