Squarepoint Ops LLC Makes New $186,000 Investment in Ooma, Inc. (NYSE:OOMA)

Squarepoint Ops LLC acquired a new position in Ooma, Inc. (NYSE:OOMA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,261 shares of the technology company’s stock, valued at approximately $186,000.

A number of other hedge funds also recently modified their holdings of OOMA. Arrowstreet Capital Limited Partnership boosted its stake 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 buying an additional 187,245 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Ooma by 674.1% in the 4th quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company’s stock valued at $1,806,000 after buying an additional 111,840 shares in the last quarter. Marshall Wace LLP boosted its stake in Ooma by 188.3% in the 4th quarter. Marshall Wace LLP now owns 146,621 shares of the technology company’s stock valued at $2,061,000 after buying an additional 95,765 shares in the last quarter. Norges Bank acquired a new stake in Ooma in the 4th quarter valued at $1,067,000. Finally, Vanguard Group Inc. boosted its stake 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 buying an additional 71,247 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on OOMA. Lake Street Capital decreased their price target 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 company a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $17.63.

Insider Activity

In other news, CAO Namrata Sabharwal sold 4,852 shares of Ooma stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $13.28, for a total value of $64,434.56. Following the completion of the sale, the chief accounting officer now directly owns 76,079 shares of the company’s stock, valued at approximately $1,010,329.12. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.90% of the company’s stock.

Ooma Trading Up 0.6%

Shares of OOMA opened at $13.25 on Monday. The stock has a fifty day moving average price of $12.72 and a two-hundred day moving average price of $13.77. 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 52-week low of $7.83 and a 52-week high of $17.00. The company has a market cap of $365.29 million, a price-to-earnings ratio of -35.82 and a beta of 1.22.

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.