Ooma, Inc. $OOMA Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its position in shares of Ooma, Inc. (NYSE:OOMA) by 2,188.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,288 shares of the technology company’s stock after acquiring an additional 2,188 shares during the period. New York State Teachers Retirement System’s holdings in Ooma were worth $30,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Longboard Asset Management LP acquired a new stake in shares of Ooma during the 2nd quarter valued at approximately $147,000. Invesco Ltd. acquired a new stake in shares of Ooma during the 1st quarter valued at approximately $161,000. Bailard Inc. raised its position in shares of Ooma by 36.0% during the 1st quarter. Bailard Inc. now owns 16,392 shares of the technology company’s stock valued at $215,000 after acquiring an additional 4,335 shares in the last quarter. State of Wyoming bought a new stake in Ooma in the first quarter valued at $310,000. Finally, Strs Ohio bought a new stake in Ooma in the first quarter valued at $332,000. 80.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Ooma in a research note on Wednesday, August 27th. Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Ooma in a research note on Monday, August 25th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.63.

Insiders Place Their Bets

In other news, CEO Eric B. Stang sold 19,265 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the transaction, the chief executive officer directly owned 688,729 shares of the company’s stock, valued at approximately $8,850,167.65. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shigeyuki Hamamatsu sold 7,335 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $12.89, for a total value of $94,548.15. Following the transaction, the chief financial officer directly owned 191,972 shares in the company, valued at $2,474,519.08. This trade represents a 3.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Ooma Stock Performance

Shares of OOMA opened at $11.22 on Friday. The firm has a market capitalization of $309.67 million, a price-to-earnings ratio of -160.26 and a beta of 1.28. Ooma, Inc. has a one year low of $10.89 and a one year high of $17.00. The stock’s fifty day moving average is $12.11 and its 200-day moving average is $12.34.

Ooma Company 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.