AlphaQuest LLC Takes Position in Ooma, Inc. $OOMA

AlphaQuest LLC bought a new position in Ooma, Inc. (NYSE:OOMA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,159 shares of the technology company’s stock, valued at approximately $234,000. AlphaQuest LLC owned about 0.07% of Ooma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of OOMA. Bailard Inc. boosted its position in shares of Ooma by 36.0% in the first quarter. Bailard Inc. now owns 16,392 shares of the technology company’s stock worth $215,000 after acquiring an additional 4,335 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Ooma by 172.9% in the first quarter. Mackenzie Financial Corp now owns 128,555 shares of the technology company’s stock worth $1,683,000 after acquiring an additional 81,446 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ooma by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,387,184 shares of the technology company’s stock worth $18,158,000 after acquiring an additional 48,459 shares during the last quarter. Bard Associates Inc. boosted its position in shares of Ooma by 5.9% in the first quarter. Bard Associates Inc. now owns 28,257 shares of the technology company’s stock worth $370,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ooma by 4.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 239,992 shares of the technology company’s stock worth $3,141,000 after acquiring an additional 10,771 shares during the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, August 27th. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Ooma in a research report on Monday, August 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.63.

Insider Transactions at Ooma

In other Ooma news, CEO Eric B. Stang sold 19,265 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.85, for a total transaction of $247,555.25. Following the transaction, the chief executive officer owned 688,729 shares in the company, valued at $8,850,167.65. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shigeyuki Hamamatsu sold 7,335 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $12.89, for a total value of $94,548.15. Following the transaction, the chief financial officer owned 191,972 shares in the company, valued at approximately $2,474,519.08. This represents a 3.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.90% of the company’s stock.

Ooma Price Performance

Shares of OOMA opened at $11.21 on Friday. The stock’s 50-day moving average is $12.06 and its two-hundred day moving average is $12.31. The stock has a market cap of $309.40 million, a PE ratio of -160.12 and a beta of 1.28. Ooma, Inc. has a 12 month low of $10.89 and a 12 month high of $17.00.

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.