Northern Trust Corp Purchases 11,107 Shares of Ooma, Inc. (NYSE:OOMA)

Northern Trust Corp increased its position in shares of Ooma, Inc. (NYSE:OOMA) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,579 shares of the technology company’s stock after buying an additional 11,107 shares during the period. Northern Trust Corp owned 0.80% of Ooma worth $3,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Ooma by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock valued at $18,822,000 after purchasing an additional 71,247 shares during the period. Renaissance Technologies LLC increased its position in Ooma by 0.4% in the 4th quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company’s stock valued at $11,615,000 after acquiring an additional 3,200 shares in the last quarter. Geode Capital Management LLC increased its position in Ooma by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 554,211 shares of the technology company’s stock valued at $7,794,000 after acquiring an additional 7,693 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Ooma by 284.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock valued at $3,557,000 after acquiring an additional 187,245 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Ooma by 40.4% in 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 acquiring an additional 66,009 shares in the last quarter. 80.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OOMA has been the topic of several recent research reports. Lake Street Capital reduced their target price on shares of 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 target on shares of Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.63.

Ooma Price Performance

Shares of OOMA opened at $12.96 on Friday. The company has a market cap of $357.14 million, a price-to-earnings ratio of -35.02 and a beta of 1.21. Ooma, Inc. has a 1-year low of $7.16 and a 1-year high of $17.00. The company’s fifty day simple moving average is $12.75 and its 200 day simple moving average is $13.78. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

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.