PDT Partners LLC Raises Stock Position in Ooma, Inc. (NYSE:OOMA)

PDT Partners LLC grew its position in Ooma, Inc. (NYSE:OOMA) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,235 shares of the technology company’s stock after buying an additional 5,300 shares during the period. PDT Partners LLC owned 0.07% of Ooma worth $285,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its stake in Ooma by 284.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock worth $3,557,000 after acquiring an additional 187,245 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Ooma by 674.1% during the 4th quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company’s stock worth $1,806,000 after purchasing an additional 111,840 shares during the last quarter. Marshall Wace LLP raised its holdings in Ooma by 188.3% in the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company’s stock valued at $2,061,000 after buying an additional 95,765 shares during the period. Norges Bank acquired a new position in Ooma in the fourth quarter valued at about $1,067,000. Finally, Vanguard Group Inc. boosted its stake in Ooma by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock worth $18,822,000 after buying an additional 71,247 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Analysts Set New Price Targets

OOMA has been the topic of a number of research analyst reports. Lake Street Capital reduced their price target on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Benchmark boosted their target price on Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. One 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 stock. According to MarketBeat, Ooma currently has an average rating of “Buy” and an average price target of $17.63.

Ooma Stock Performance

Shares of OOMA stock opened at $12.55 on Friday. The firm has a 50 day moving average of $12.93 and a two-hundred day moving average of $13.67. The stock has a market capitalization of $345.97 million, a PE ratio of -33.93 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. Ooma, Inc. has a 52 week low of $6.82 and a 52 week high of $17.00.

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.