Renaissance Technologies LLC Decreases Stock Holdings in Ooma, Inc. (NYSE:OOMA)

Renaissance Technologies LLC lessened its holdings in Ooma, Inc. (NYSE:OOMA – Get Rating) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 845,839 shares of the technology company’s stock after selling 184,964 shares during the period. Renaissance Technologies LLC owned 3.48% of Ooma worth $10,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of OOMA. Tower Research Capital LLC TRC lifted its holdings in shares of Ooma by 102.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,375 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,201 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Ooma by 404.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,471 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,981 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Ooma by 43.6% in the second quarter. Lazard Asset Management LLC now owns 6,375 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,936 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Ooma in the second quarter valued at approximately $120,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Ooma in the third quarter valued at approximately $140,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OOMA. StockNews.com raised shares of Ooma from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 9th. JMP Securities cut their price objective on shares of Ooma from $20.00 to $18.00 and set a “market outperform” rating for the company in a research report on Friday. Benchmark boosted their price objective on shares of Ooma to $24.00 in a research report on Friday, December 2nd. Finally, Alliance Global Partners cut their price objective on shares of Ooma from $21.00 to $20.00 in a research report on Friday.

Ooma Stock Performance

Shares of OOMA stock opened at $12.99 on Tuesday. Ooma, Inc. has a one year low of $10.82 and a one year high of $16.76. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $14.00. The firm has a market capitalization of $322.15 million, a price-to-earnings ratio of -86.60 and a beta of 0.85.

Ooma (NYSE:OOMA – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The technology company reported $0.02 EPS for the quarter. Ooma had a negative net margin of 1.69% and a negative return on equity of 0.98%. The firm had revenue of $56.50 million during the quarter, compared to analyst estimates of $56.40 million. As a group, equities analysts forecast that Ooma, Inc. will post 0.03 EPS for the current fiscal year.

Ooma Company Profile

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Ooma, Inc engages in the provision of platforms for cloud-based communications solutions, smart security and other connected services. It helps create smart workplaces and homes by providing communications, monitoring, security, automation, productivity, and networking infrastructure applications. Its products and services include Ooma business and Ooma residential.