Dimensional Fund Advisors LP Sells 21,998 Shares of Ooma, Inc. (NYSE:OOMA)

Dimensional Fund Advisors LP lowered its stake in Ooma, Inc. (NYSE:OOMA - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,517 shares of the technology company's stock after selling 21,998 shares during the period. Dimensional Fund Advisors LP owned approximately 1.06% of Ooma worth $4,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC increased its position in shares of Ooma by 32.7% in the third quarter. Barclays PLC now owns 98,964 shares of the technology company's stock valued at $1,128,000 after acquiring an additional 24,402 shares during the period. SG Americas Securities LLC lifted its position in shares of Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company's stock worth $180,000 after purchasing an additional 2,663 shares during the period. Inspire Investing LLC bought a new position in shares of Ooma in the 4th quarter worth approximately $802,000. Bard Associates Inc. lifted its position in Ooma by 31.1% during the fourth quarter. Bard Associates Inc. now owns 26,675 shares of the technology company's stock valued at $375,000 after buying an additional 6,328 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 acquiring an additional 66,009 shares in the last quarter. Institutional investors own 80.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Benchmark increased their target price on Ooma from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Lake Street Capital cut their target price on Ooma from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $17.63.

Ooma Stock Performance

Shares of OOMA traded down $0.01 during mid-day trading on Friday, hitting $13.80. 95,360 shares of the company traded hands, compared to its average volume of 122,933. Ooma, Inc. has a 1 year low of $7.16 and a 1 year high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a 50-day moving average price of $12.76 and a two-hundred day moving average price of $13.73. The stock has a market cap of $380.20 million, a price-to-earnings ratio of -37.28 and a beta of 1.21.

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.