Spark Investment Management LLC boosted its holdings in shares of Ooma Inc (NYSE:OOMA) by 43.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,795 shares of the technology company’s stock after acquiring an additional 16,295 shares during the quarter. Spark Investment Management LLC owned 0.26% of Ooma worth $712,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of OOMA. Rhumbline Advisers lifted its holdings in shares of Ooma by 4.5% in the 1st quarter. Rhumbline Advisers now owns 24,468 shares of the technology company’s stock worth $324,000 after buying an additional 1,054 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Ooma by 385.7% during the 4th quarter. Meeder Asset Management Inc. now owns 2,147 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,705 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Ooma by 99,100.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the technology company’s stock worth $53,000 after purchasing an additional 3,964 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Ooma by 15.8% during the 3rd quarter. Teachers Advisors LLC now owns 35,860 shares of the technology company’s stock worth $595,000 after purchasing an additional 4,894 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Ooma by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,351 shares of the technology company’s stock worth $88,000 after purchasing an additional 4,960 shares during the last quarter. Institutional investors own 75.98% of the company’s stock.
OOMA has been the subject of a number of analyst reports. ValuEngine upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research cut Ooma from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Finally, B. Riley upped their price objective on Ooma from $20.00 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.70.
In other news, CEO Eric B. Stang sold 12,340 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $13.84, for a total value of $170,785.60. Following the transaction, the chief executive officer now directly owns 397,500 shares of the company’s stock, valued at $5,501,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 13,340 shares of company stock worth $184,286 over the last three months. Corporate insiders own 10.19% of the company’s stock.
NYSE:OOMA traded up $0.17 during mid-day trading on Friday, hitting $12.05. 40,800 shares of the company’s stock traded hands, compared to its average volume of 57,146. Ooma Inc has a twelve month low of $11.28 and a twelve month high of $17.50. The firm has a market capitalization of $246.74 million, a P/E ratio of -17.46 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.30 and a quick ratio of 1.16.
Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $34.01 million for the quarter, compared to analyst estimates of $33.64 million. Ooma had a negative return on equity of 42.73% and a negative net margin of 11.75%. On average, analysts expect that Ooma Inc will post -0.82 EPS for the current year.
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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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