Acadian Asset Management LLC Has $12.34 Million Position in Ooma, Inc. $OOMA

Key Points

• Acadian Asset Management LLC increased its holdings in Ooma, Inc. by 39.8%, owning approximately 3.43% of the company with a position valued at $12.34 million.
• Ooma's stock currently holds a consensus rating of "Moderate Buy" with an average price target of $17.63 as analysts from Benchmark and JMP Securities maintain buy or market perform ratings.
• Insider sales have occurred, including CEO Eric B. Stang selling 19,265 shares at an average price of $12.85, reflecting a 2.72% decrease in his total holdings.

Acadian Asset Management LLC boosted its holdings in shares of Ooma, Inc. (NYSE:OOMA - Free Report) by 39.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 943,971 shares of the technology company's stock after buying an additional 268,636 shares during the period. Acadian Asset Management LLC owned about 3.43% of Ooma worth $12,344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Bard Associates Inc. boosted its stake in Ooma by 5.9% during the first quarter. Bard Associates Inc. now owns 28,257 shares of the technology company's stock worth $370,000 after buying an additional 1,582 shares in the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of Ooma by 14.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 22,957 shares of the technology company's stock valued at $323,000 after purchasing an additional 2,833 shares in the last quarter. Bailard Inc. boosted its stake in shares of Ooma by 36.0% in the 1st quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock valued at $215,000 after purchasing an additional 4,335 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Ooma by 5.5% in the 4th quarter. Ameriprise Financial Inc. now owns 166,101 shares of the technology company's stock valued at $2,335,000 after purchasing an additional 8,702 shares in the last quarter. Finally, PDT Partners LLC boosted its stake in shares of Ooma by 48.8% in the 1st quarter. PDT Partners LLC now owns 30,105 shares of the technology company's stock valued at $394,000 after purchasing an additional 9,870 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark restated a "buy" rating and issued a $20.00 target price on shares of Ooma in a research note on Monday, August 25th. JMP Securities restated a "market perform" rating on shares of Ooma in a research note on Wednesday, August 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Ooma presently has a consensus rating of "Moderate Buy" and an average price target of $17.63.

Ooma Stock Up 2.2%

Shares of NYSE OOMA opened at $12.79 on Friday. The firm's 50-day simple moving average is $12.11 and its 200 day simple moving average is $12.69. The company has a market cap of $352.87 million, a price-to-earnings ratio of -182.62 and a beta of 1.30. Ooma, Inc. has a 12-month low of $10.88 and a 12-month high of $17.00.

Insider Buying and Selling at Ooma

In related news, CEO Eric B. Stang sold 19,265 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $12.85, for a total value of $247,555.25. Following the sale, the chief executive officer directly owned 688,729 shares in the company, valued at $8,850,167.65. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew H. Galligan sold 12,407 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $12.43, for a total transaction of $154,219.01. Following the completion of the sale, the director owned 241,081 shares in the company, valued at $2,996,636.83. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,007 shares of company stock worth $496,322. Company insiders own 9.90% of the company's stock.

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.

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