Voya Investment Management LLC Cuts Stock Holdings in Ooma, Inc. (NYSE:OOMA)

Voya Investment Management LLC trimmed its stake in Ooma, Inc. (NYSE:OOMA) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,604 shares of the technology company’s stock after selling 1,456 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Ooma worth $402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OOMA. Vanguard Group Inc. raised its position in shares of 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 buying an additional 71,247 shares in the last quarter. Renaissance Technologies LLC raised its position in Ooma by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company’s stock valued at $11,615,000 after purchasing an additional 3,200 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 7,693 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted 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 purchasing an additional 187,245 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ooma by 40.4% during 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 purchasing an additional 66,009 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Benchmark boosted 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. Lake Street Capital lowered their price objective on shares of Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One equities 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 company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.63.

Ooma Trading Down 0.8 %

NYSE OOMA opened at $12.97 on Friday. The stock has a 50-day moving average of $12.79 and a 200-day moving average of $13.70. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma, Inc. has a 1-year low of $7.16 and a 1-year high of $17.00. The firm has a market cap of $357.47 million, a PE ratio of -35.05 and a beta of 1.21.

About Ooma

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.