Wells Fargo & Company MN Raises Stock Holdings in Ooma, Inc. (NYSE:OOMA)

Wells Fargo & Company MN grew its holdings in Ooma, Inc. (NYSE:OOMA) by 29.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,295 shares of the technology company’s stock after buying an additional 3,466 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Ooma worth $215,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Ooma during the fourth quarter worth $92,000. EntryPoint Capital LLC purchased a new position in Ooma in the 4th quarter valued at about $153,000. SG Americas Securities LLC lifted its stake in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after buying an additional 2,663 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Ooma in the 4th quarter worth about $189,000. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of Ooma during the fourth quarter worth approximately $302,000. 80.42% of the stock is owned by institutional investors and hedge funds.

Ooma Stock Up 2.1 %

OOMA stock opened at $13.05 on Friday. The firm has a market cap of $359.67 million, a PE ratio of -35.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. Ooma, Inc. has a one year low of $7.16 and a one year high of $17.00. The firm’s 50 day moving average price is $12.81 and its 200-day moving average price is $13.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital dropped their target price on shares of Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Benchmark raised their target price on shares of Ooma from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. One research 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 company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $17.63.

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.