Ameriprise Financial Inc. boosted its stake in shares of Ooma Inc. (NYSE:OOMA) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 687,700 shares of the company’s stock after buying an additional 1,300 shares during the period. Ameriprise Financial Inc. owned about 3.99% of Ooma worth $5,633,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of OOMA. Renaissance Technologies LLC bought a new stake in Ooma during the first quarter worth about $261,000. Jacobs Levy Equity Management Inc. bought a new stake in Ooma during the first quarter worth about $473,000. Emerald Acquisition Ltd. bought a new stake in Ooma during the second quarter worth about $779,000. Finally, Boston Partners bought a new stake in Ooma during the second quarter worth about $2,316,000. Hedge funds and other institutional investors own 22.73% of the company’s stock.
Ooma Inc. (NYSE:OOMA) traded down 1.01% during trading on Thursday, reaching $8.80. The company had a trading volume of 4,606 shares. The firm’s 50-day moving average price is $8.95 and its 200 day moving average price is $7.88. Ooma Inc. has a one year low of $5.43 and a one year high of $9.92. The firm’s market capitalization is $153.15 million.
Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, August 30th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Ooma had a negative return on equity of 32.89% and a negative net margin of 14.33%. The business had revenue of $25.50 million for the quarter, compared to the consensus estimate of $25.21 million. Ooma’s quarterly revenue was up 20.9% on a year-over-year basis. Equities analysts forecast that Ooma Inc. will post ($0.22) earnings per share for the current fiscal year.
A number of analysts recently issued reports on OOMA shares. Zacks Investment Research upgraded Ooma from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. JMP Securities boosted their price objective on Ooma from $12.00 to $14.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 31st. Bank of America Corp. restated a “buy” rating and set a $12.00 target price on shares of Ooma in a research report on Wednesday, August 31st. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Ooma in a research report on Wednesday, August 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ooma has a consensus rating of “Buy” and an average price target of $12.15.
In other news, Director Russell Mann sold 27,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $8.80, for a total value of $237,600.00. Following the transaction, the director now directly owns 55,974 shares in the company, valued at approximately $492,571.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP James A. Gustke sold 6,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $8.46, for a total value of $50,760.00. Following the completion of the transaction, the vice president now owns 229,074 shares in the company, valued at $1,937,966.04. The disclosure for this sale can be found here. Company insiders own 48.19% of the company’s stock.
Ooma Company Profile
Ooma, Inc is a provider of communications solutions and other connected services to small business, home and mobile users. The Company’s hybrid software as a service (SaaS) platform consists of its cloud, on premise appliances, mobile applications and end-point devices. The Company’s communications solutions deliver its PureVoice high-definition (HD) voice quality and integration with mobile devices.