Vanguard Group Inc. Purchases 71,247 Shares of Ooma, Inc. (NYSE:OOMA)

Vanguard Group Inc. increased its position in Ooma, Inc. (NYSE:OOMA) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,338,725 shares of the technology company’s stock after buying an additional 71,247 shares during the quarter. Vanguard Group Inc. owned 4.96% of Ooma worth $18,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of OOMA. Geode Capital Management LLC increased its stake in Ooma by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 546,518 shares of the technology company’s stock worth $6,226,000 after purchasing an additional 4,683 shares during the period. State Street Corp increased its stake in shares of Ooma by 2.9% in the third quarter. State Street Corp now owns 475,737 shares of the technology company’s stock worth $5,419,000 after buying an additional 13,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Ooma by 40.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company’s stock valued at $3,223,000 after buying an additional 66,009 shares during the last quarter. Barclays PLC boosted its position in Ooma by 32.7% during the 3rd quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after buying an additional 24,402 shares during the period. Finally, Globeflex Capital L P grew its holdings in Ooma by 473.7% in the 4th quarter. Globeflex Capital L P now owns 77,305 shares of the technology company’s stock worth $1,087,000 after acquiring an additional 63,831 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OOMA shares. Lake Street Capital cut their target price on Ooma from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Benchmark lifted their price objective on Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $17.63.

Ooma Price Performance

Shares of NYSE OOMA opened at $12.21 on Thursday. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00. The stock has a market capitalization of $337.00 million, a P/E ratio of -33.00 and a beta of 1.06. The company’s 50-day moving average is $13.64 and its 200 day moving average is $13.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82.

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.