Ooma, Inc. (NYSE:OOMA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Ooma, Inc. (NYSE:OOMA) by 22.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,192 shares of the technology company’s stock after selling 11,337 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of Ooma worth $421,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in Ooma by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,185,810 shares of the technology company’s stock worth $15,427,000 after acquiring an additional 5,419 shares during the period. GSA Capital Partners LLP lifted its position in Ooma by 6.4% during the 3rd quarter. GSA Capital Partners LLP now owns 60,319 shares of the technology company’s stock worth $785,000 after acquiring an additional 3,649 shares during the period. Corton Capital Inc. acquired a new stake in Ooma during the 3rd quarter worth about $142,000. Trigran Investments Inc. lifted its position in Ooma by 1.8% during the 3rd quarter. Trigran Investments Inc. now owns 3,671,355 shares of the technology company’s stock worth $47,764,000 after acquiring an additional 64,414 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Ooma by 10.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,803 shares of the technology company’s stock worth $973,000 after acquiring an additional 6,784 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Price Performance

Shares of Ooma stock opened at $6.85 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.24 and a debt-to-equity ratio of 0.20. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $15.66. The business has a 50-day moving average price of $8.61 and a 200 day moving average price of $10.17. The firm has a market cap of $180.84 million, a PE ratio of -229.33 and a beta of 0.81.

Ooma (NYSE:OOMA) last announced its quarterly earnings results on Tuesday, March 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Ooma had a positive return on equity of 0.35% and a negative net margin of 0.35%. The firm had revenue of $61.68 million during the quarter, compared to analyst estimates of $61.46 million. Sell-side analysts predict that Ooma, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on OOMA shares. TheStreet cut Ooma from a “c” rating to a “d+” rating in a research report on Tuesday, March 5th. Benchmark decreased their price objective on Ooma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Alliance Global Partners decreased their price objective on Ooma from $16.00 to $14.50 and set a “buy” rating for the company in a report on Wednesday, March 6th. Finally, B. Riley reissued a “buy” rating and issued a $14.50 price objective (down previously from $19.00) on shares of Ooma in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.67.

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.