Alliancebernstein L.P. Purchases 111,840 Shares of Ooma, Inc. (NYSE:OOMA)

Alliancebernstein L.P. grew its position in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 674.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,430 shares of the technology company's stock after acquiring an additional 111,840 shares during the quarter. Alliancebernstein L.P. owned about 0.48% of Ooma worth $1,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in Ooma by 284.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company's stock worth $3,557,000 after buying an additional 187,245 shares in the last quarter. Norges Bank purchased a new stake in Ooma in the 4th quarter worth about $1,067,000. Vanguard Group Inc. grew its stake in Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company's stock valued at $18,822,000 after acquiring an additional 71,247 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Ooma by 40.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,221 shares of the technology company's stock worth $3,223,000 after purchasing an additional 66,009 shares during the period. Finally, Globeflex Capital L P lifted its holdings in shares of Ooma by 473.7% during the fourth quarter. Globeflex Capital L P now owns 77,305 shares of the technology company's stock worth $1,087,000 after buying an additional 63,831 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Lake Street Capital lowered their price objective on shares of Ooma from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Benchmark increased 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 research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ooma has an average rating of "Buy" and an average price target of $17.63.

Ooma Stock Performance

OOMA traded up $0.23 during trading hours on Wednesday, hitting $12.14. The stock had a trading volume of 8,019 shares, compared to its average volume of 124,337. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $335.06 million, a PE ratio of -32.81 and a beta of 1.06. Ooma, Inc. has a 1 year low of $6.50 and a 1 year high of $17.00. The company's fifty day simple moving average is $13.41 and its 200 day simple moving average is $13.65.

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.