Ooma, Inc. (NYSE:OOMA) Stake Decreased by Trigran Investments Inc.

Trigran Investments Inc. decreased its holdings in Ooma, Inc. (NYSE:OOMA) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,487,277 shares of the technology company’s stock after selling 337,002 shares during the period. Ooma makes up approximately 5.6% of Trigran Investments Inc.’s investment portfolio, making the stock its 9th largest position. Trigran Investments Inc. owned about 12.92% of Ooma worth $49,031,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of OOMA. Arrowstreet Capital Limited Partnership increased its position 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 during the last quarter. Alliancebernstein L.P. increased its holdings 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 buying an additional 111,840 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Ooma by 188.3% during the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company’s stock worth $2,061,000 after buying an additional 95,765 shares during the last quarter. Norges Bank acquired a new position in Ooma in the fourth quarter valued at approximately $1,067,000. Finally, Vanguard Group Inc. grew its position in Ooma by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock worth $18,822,000 after acquiring an additional 71,247 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Trading Up 0.8 %

Shares of NYSE OOMA opened at $12.34 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $340.45 million, a PE ratio of -33.34 and a beta of 1.06. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $17.00. The stock has a fifty day simple moving average of $13.54 and a 200-day simple moving average of $13.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Lake Street Capital reduced their target price on Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Benchmark boosted their price objective on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.63.

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.