Boston Partners Lowers Holdings in Ooma, Inc. $OOMA

Key Points

• Boston Partners reduced its stake in Ooma, Inc. by 28.2%, selling 107,857 shares during the first quarter and retaining approximately 1.00% ownership worth $3,595,000.
• Several institutional investors have increased their holdings in Ooma, with Geode Capital Management growing its stake by 1.4% and Marshall Wace LLP boosting it by 188.3% in the fourth quarter.
• Insiders have sold 51,609 shares of Ooma stock worth $666,657 in the last 90 days, indicating a potential 4.89% decrease in ownership by Director Andrew H. Galligan and a 12.58% decrease by CAO Namrata Sabharwal.

Boston Partners decreased its holdings in Ooma, Inc. (NYSE:OOMA - Free Report) by 28.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 274,722 shares of the technology company's stock after selling 107,857 shares during the quarter. Boston Partners owned 1.00% of Ooma worth $3,595,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Oxford Asset Management LLP purchased a new position in Ooma in the 4th quarter worth about $168,000. Invesco Ltd. purchased a new position in Ooma in the 1st quarter worth about $161,000. Squarepoint Ops LLC purchased a new position in Ooma in the 4th quarter worth about $186,000. Wells Fargo & Company MN raised its position in Ooma by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock worth $215,000 after buying an additional 3,466 shares during the last quarter. Finally, Bailard Inc. raised its position in Ooma by 36.0% in the 1st quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock worth $215,000 after buying an additional 4,335 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company's stock.

Ooma Stock Performance

Shares of NYSE OOMA traded up $0.4050 during midday trading on Friday, hitting $12.0450. 73,660 shares of the company's stock traded hands, compared to its average volume of 137,187. The firm has a fifty day moving average of $12.07 and a 200 day moving average of $12.92. Ooma, Inc. has a 1 year low of $8.30 and a 1 year high of $17.00. The stock has a market capitalization of $332.44 million, a price-to-earnings ratio of -63.45 and a beta of 1.21.

Insider Buying and Selling at Ooma

In related news, Director Andrew H. Galligan sold 12,407 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $12.43, for a total value of $154,219.01. Following the transaction, the director directly owned 241,081 shares of the company's stock, valued at approximately $2,996,636.83. This trade represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric B. Stang sold 10,727 shares of Ooma stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $12.98, for a total value of $139,236.46. Following the transaction, the chief executive officer owned 1,236,997 shares in the company, valued at $16,056,221.06. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,609 shares of company stock valued at $666,657 over the last three months. Insiders own 9.90% of the company's stock.

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.