Boston Partners Has $450,000 Holdings in Ooma, Inc. $OOMA

Boston Partners cut its position in shares of Ooma, Inc. (NYSE:OOMA) by 87.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,908 shares of the technology company’s stock after selling 239,814 shares during the quarter. Boston Partners owned 0.13% of Ooma worth $450,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in OOMA. New York State Teachers Retirement System raised its holdings in shares of Ooma by 2,188.0% during the second quarter. New York State Teachers Retirement System now owns 2,288 shares of the technology company’s stock valued at $30,000 after acquiring an additional 2,188 shares during the period. Cornerstone Investment Partners LLC purchased a new position in Ooma during the 2nd quarter worth approximately $139,000. Longboard Asset Management LP acquired a new stake in Ooma during the 2nd quarter valued at $147,000. Invesco Ltd. acquired a new stake in Ooma during the 1st quarter valued at $161,000. Finally, Bailard Inc. lifted its holdings in shares of Ooma by 36.0% in the first quarter. Bailard Inc. now owns 16,392 shares of the technology company’s stock valued at $215,000 after purchasing an additional 4,335 shares in the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Price Performance

Shares of NYSE OOMA opened at $11.34 on Friday. Ooma, Inc. has a one year low of $10.89 and a one year high of $17.00. The business’s 50-day moving average price is $11.86 and its two-hundred day moving average price is $12.29. The company has a market capitalization of $312.98 million, a P/E ratio of -161.98 and a beta of 1.32.

Insider Buying and Selling

In other Ooma news, CFO Shigeyuki Hamamatsu sold 7,335 shares of Ooma stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 191,972 shares in the company, valued at $2,474,519.08. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric B. Stang sold 19,265 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 688,729 shares of the company’s stock, valued at $8,850,167.65. This represents a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

OOMA has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Ooma in a report on Monday, August 25th. JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a research note on Wednesday, August 27th. Finally, Lake Street Capital upped their target price on Ooma from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Ooma currently has an average rating of “Moderate Buy” and a consensus target price of $17.88.

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.