Nuveen LLC Purchases New Holdings in Ooma, Inc. $OOMA

Key Points

• Nuveen LLC acquired a new stake in Ooma, Inc., purchasing 264,737 shares valued at approximately $3.47 million, representing about 0.96% of the company.
• Several hedge funds have adjusted their positions in Ooma, with institutional investors owning 80.42% of the company's stock.
• Ooma's stock has seen a price target increase, with analysts giving it a consensus rating of "Moderate Buy" and an average price target of $17.63.

Nuveen LLC bought a new stake in shares of Ooma, Inc. (NYSE:OOMA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 264,737 shares of the technology company's stock, valued at approximately $3,465,000. Nuveen LLC owned approximately 0.96% of Ooma at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in shares of Ooma in the first quarter worth about $161,000. Squarepoint Ops LLC purchased a new position in Ooma during the fourth quarter worth approximately $186,000. Wells Fargo & Company MN raised its holdings in shares of Ooma by 29.3% during the fourth quarter. Wells Fargo & Company MN now owns 15,295 shares of the technology company's stock valued at $215,000 after acquiring an additional 3,466 shares during the last quarter. Bailard Inc. raised its holdings in shares of Ooma by 36.0% during the first quarter. Bailard Inc. now owns 16,392 shares of the technology company's stock valued at $215,000 after acquiring an additional 4,335 shares during the last quarter. Finally, PDT Partners LLC lifted its position in Ooma by 35.5% during the fourth quarter. PDT Partners LLC now owns 20,235 shares of the technology company's stock worth $285,000 after buying an additional 5,300 shares in the last quarter. Hedge funds and other institutional investors own 80.42% of the company's stock.

Ooma Trading Down 0.0%

OOMA traded down $0.00 during mid-day trading on Monday, hitting $12.95. 164,906 shares of the stock were exchanged, compared to its average volume of 158,135. The firm's fifty day moving average is $12.10 and its two-hundred day moving average is $12.80. Ooma, Inc. has a 1-year low of $9.84 and a 1-year high of $17.00. The company has a market cap of $357.34 million, a PE ratio of -184.93 and a beta of 1.30.

Insider Buying and Selling

In related news, CAO Namrata Sabharwal sold 9,491 shares of Ooma stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.66, for a total value of $120,156.06. Following the completion of the transaction, the chief accounting officer directly owned 65,935 shares in the company, valued at approximately $834,737.10. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shigeyuki Hamamatsu sold 10,704 shares of Ooma stock in a transaction on Monday, June 9th. The shares were sold at an average price of $13.31, for a total value of $142,470.24. Following the completion of the transaction, the chief financial officer owned 207,909 shares of the company's stock, valued at approximately $2,767,268.79. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,609 shares of company stock valued at $666,657. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Benchmark reiterated a "buy" rating and set a $20.00 price objective on shares of Ooma in a research report on Monday, August 25th. JMP Securities reiterated a "market perform" rating on shares of Ooma in a research report on Wednesday, August 27th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Ooma presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.63.

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.