Inspire Investing LLC Takes $802,000 Position in Ooma, Inc. (NYSE:OOMA)

Inspire Investing LLC purchased a new stake in Ooma, Inc. (NYSE:OOMA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 57,015 shares of the technology company’s stock, valued at approximately $802,000. Inspire Investing LLC owned 0.21% of Ooma as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Ooma by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock valued at $6,226,000 after buying an additional 4,683 shares during the period. State Street Corp lifted its position in Ooma by 2.9% in the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after acquiring an additional 13,240 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Ooma by 0.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 179,679 shares of the technology company’s stock valued at $2,047,000 after acquiring an additional 1,364 shares in the last quarter. Perkins Capital Management Inc. lifted its position in Ooma by 8.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock valued at $1,915,000 after acquiring an additional 13,300 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after acquiring an additional 66,678 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Insider Transactions at Ooma

In other news, SVP James A. Gustke sold 3,582 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $17.00, for a total transaction of $60,894.00. Following the transaction, the senior vice president now directly owns 27,675 shares in the company, valued at $470,475. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Pearce sold 3,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total transaction of $57,498.00. Following the transaction, the director now owns 163,353 shares in the company, valued at $2,538,505.62. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,457 shares of company stock worth $2,413,132 in the last ninety days. Insiders own 9.76% of the company’s stock.

Analyst Upgrades and Downgrades

OOMA has been the topic of several research reports. Northland Securities boosted their price objective on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. B. Riley boosted their price objective on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Lake Street Capital boosted their price objective on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark boosted their price target on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.60.

Ooma Stock Up 1.9 %

Ooma stock opened at $14.39 on Friday. The firm has a market capitalization of $388.40 million, a PE ratio of -38.88 and a beta of 0.96. The company’s 50-day moving average is $14.37 and its 200-day moving average is $12.03. Ooma, Inc. has a fifty-two week low of $6.50 and a fifty-two week 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.

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.