Connective Capital Management LLC Buys New Holdings in Ooma, Inc. (NYSE:OOMA)

Connective Capital Management LLC bought a new stake in Ooma, Inc. (NYSE:OOMA) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 30,644 shares of the technology company’s stock, valued at approximately $431,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new stake in Ooma during the fourth quarter worth approximately $363,000. Inspire Investing LLC acquired a new stake in Ooma during the fourth quarter worth approximately $802,000. Arrowstreet Capital Limited Partnership raised its holdings 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 purchasing an additional 187,245 shares in the last quarter. Barclays PLC raised its holdings in Ooma by 0.9% during the fourth quarter. Barclays PLC now owns 99,891 shares of the technology company’s stock worth $1,405,000 after purchasing an additional 927 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Ooma during the fourth quarter worth approximately $153,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OOMA. Benchmark lifted their target price on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Lake Street Capital cut their target price on shares of Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.63.

Ooma Stock Performance

Shares of Ooma stock opened at $13.80 on Wednesday. The firm’s fifty day simple moving average is $12.77 and its 200-day simple moving average is $13.77. The stock has a market capitalization of $380.34 million, a price-to-earnings ratio of -37.30 and a beta of 1.21. Ooma, Inc. has a 12 month low of $7.16 and a 12 month high of $17.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82.

Ooma Profile

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.